Revenues up for Dubai’s global port firm DP World

Business

DUBAI, United Arab Emirates (AP) — Global port operator DP World is reporting stronger financials for the first half of 2019, with revenue up nearly 32% and profits up almost 27% from the same period last year.

The port operator said revenue for the first half of the year reached $3.46 billion and profits reached $753 million. The company’s earnings before interest, tax and other fees grew nearly 22% at $1.6 billion.

The company appears to be on course to surpass last year’s profits of $1.29 billion.

DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said Thursday despite global trade disputes and regional geopolitics causing uncertainty to the container market, the company’s half-year performance leaves it “well placed to deliver full-year results slightly ahead of market expectations.”

Copyright 2019 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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