GLOBAL port operator DP World posted a 25.1 per cent year on year increase in net profit to US$676 million in 2014, drawn on revenues of $3.41 billion, which went up 11.3 per cent.
The Dubai-based company's acquisition of Economic Zone World (EZW), including the leading logistics park in the GCC [Gulf Cooperation Council countries], Jebel Ali Freezone (JAFZ), for of $2.6 billion was announced in November 2014
Jebel Ali (UAE) added two million TEU capacity at Terminal 3; progress was made at new projects in Mumbai (India), Yarimca (Turkey) and Rotterdam (Netherlands), which are expected to launch in 2015, said DP World.
"By the end of 2015 we expect to have 85 million TEU of gross global capacity, an increase of 15 million TEU since 2012, and over 100 million TEU of gross capacity by 2020, subject to market demand," the company said.
"We expect capital expenditure in 2015 to be between $1.4 billion and $1.7 billion," the company statement said.
"We have ambitious strategic goals to maximise financial returns, strengthen global supply chains and create sustainable economic growth around the world," said DP World chairman Ahmed Bin Sulayem.
"Our performance in 2014 outperformed the industry, and illustrates that our strategy is bearing fruit as we benefitted from increased volumes across our global portfolio, including Embraport in Brazil and London Gateway in the UK which came on stream in 2013," he said.
"The acquisition of the Jebel Ali Freezone will allow us to further consolidate our position as the leading logistics hub in the fast growing Middle East region," Sultan bin Sulayem. said.
Said group CEO Mohammed Sharaf: "This robust set of results was driven by DP World 's long-term strategic approach, the company's focus on faster growing markets and continued investment in its people, innovation and world-class technology."
PORTS
19 March 2015 - 20:51
DP World profit up 25.1pc to US$676 million as revenue rises 11.3pc
GLOBAL port operator DP World posted a 25.1 per cent year on year increase in net profit to US$676 million in 2014, drawn on revenues of $3.41 billion, which went up 11.3 per cent.
PORTS
19 March 2015 - 20:51
DP World profit up 25.1pc to US$676 million as revenue rises 11.3pc
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