Middle East

DP World profit grows despite volume decline

Dubai: Offloading its assets in Hong Kong in March helped make up for a decline in throughput and keep DP World in the black in the first half, amid what top management admit are “challenging”.

DP World, the world's third-largest port operator, reported a 9.1% rise in net profit to $264m.

"The outlook remains uncertain and market conditions in some regions are undoubtedly challenging," said Mohammed Sharaf, DP World's group chief executive.

"We continue to focus on delivering efficiencies, containing costs and handling higher margin containers to drive profitability and, in light of improving momentum seen through the first half, remain confident of meeting full year expectations," he said.  [29/08/13]

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