Middle East

DP World profit hits $749m

Dubai: DP World managed a profit of $749m in 2012, up 10% year-on-year, following what chairman Sultan Ahmed Bin Sulayem described as “a strong year of operational performance from its global operations, prudent financial management and proactive management of assets”.

Revenue increased 5% to $3.12bn with strongest growth in the Middle East, Europe and Africa. The group handled more than 56m teu last year.

DP World group chief executive, Mohammed Sharaf commented: “Over the next two years, we will deliver a further 10m teuof new capacity. The first of this will come onstream in the next few months at Jebel Ali, UAE, with Embraport, Brazil and London Gateway, UK, opening later this year.”  [20/03/13]

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