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DP World profits up, but downturn dampens investment plans
2009/4/14
DUBAI''s DP World global terminal operator has posted a near 50 per cent profit increase to US$621 million, but said it would put off investments in new terminals because of falling volumes world wide.
Revenue increased 20 per cent to US$3.3 billion and operating profit was up 22 per cent than it was in 2007 to $1.3 billion.
Volume at DP World''s 26 consolidated terminals increased 15 per cent to 27.7 million TEU from 24 million TEU, while throughput at all its 46 terminals was up eight per cent to 46.8 million TEU.
But fourth quarter declines continued into the first quarter, said a company statement with an average decrease across DP World network of eight per cent, but with developed market ports posting double digit declines.
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2009/4/15