DUBAI-based DP world, the world's third largest port operator, recently announced its first half results, experiencing a 12 per cent increase in pretax profit to US$310 million, drawn on revenues of $1.53 billion, up 1.9 per cent.
The company said the revenues reflected a 10 per cent growth in handling more containers and a 14 per cent increase in non-container revenue. The company's revenues from Middle East, Africa and European operations grew 14 per cent to $1 billion, but revenues from Asia Pacific, Indian subcontinent and Australia fell in the first half.
Said DP World chairman Sultan Ahmen Bin Sulayem in a company statement: "The past six months has been a challenging period for the global economy. Taking this into account, it is very encouraging that DP World has been able to show good profit growth across its global portfolio, led by it key markets of Africa, the Middle East and South America."DP World handled 7.5 per cent more containers in first half. It handled 28.2 million TEU at its more than 60 terminals compared with 26.2 million TEU in the same period last year.
Looking across its regional portfolio, the company said the Middle East, Europe and Africa region delivered a remarkable performance with an 18 per cent improvement in EBITDA (earnings before interest, taxes, depreciation and amortisation) to $477 million and further improvement in EBITDA margin to 46.3 per cent. "This reflects the strategic positioning of our terminals towards the faster growing and stronger economies in this region, mitigating weaker trade across continental Europe," said the company statement.
The Asia-Pacific and Indian subcontinent reported EBITDA of $159 million in the first six months and record EBITDA margins of 68.4 per cent."Our terminals in the Australia and Americas region delivered a strong revenue performance in the first six months of 2012 reporting revenue of $266 million, or 12 per cent, growth on an underlying basis and EBITDA of $77 million."DP World is implementing 11 new developments and expansions worldwide, which include the London Gateway deep-sea port, scheduled to open in the fourth quarter of 2013, reported Dubai's Khaleej Times, adding that it handled nearly 55 million TEU across its portfolio from the Americas to Asia.
The port operator has carried out projects to develop various emerging markets in India, China and the Middle East. It expects to increase its container handling capacity to 103 million TEU by 2020.
The company said the revenues reflected a 10 per cent growth in handling more containers and a 14 per cent increase in non-container revenue. The company's revenues from Middle East, Africa and European operations grew 14 per cent to $1 billion, but revenues from Asia Pacific, Indian subcontinent and Australia fell in the first half.
Said DP World chairman Sultan Ahmen Bin Sulayem in a company statement: "The past six months has been a challenging period for the global economy. Taking this into account, it is very encouraging that DP World has been able to show good profit growth across its global portfolio, led by it key markets of Africa, the Middle East and South America."DP World handled 7.5 per cent more containers in first half. It handled 28.2 million TEU at its more than 60 terminals compared with 26.2 million TEU in the same period last year.
Looking across its regional portfolio, the company said the Middle East, Europe and Africa region delivered a remarkable performance with an 18 per cent improvement in EBITDA (earnings before interest, taxes, depreciation and amortisation) to $477 million and further improvement in EBITDA margin to 46.3 per cent. "This reflects the strategic positioning of our terminals towards the faster growing and stronger economies in this region, mitigating weaker trade across continental Europe," said the company statement.
The Asia-Pacific and Indian subcontinent reported EBITDA of $159 million in the first six months and record EBITDA margins of 68.4 per cent."Our terminals in the Australia and Americas region delivered a strong revenue performance in the first six months of 2012 reporting revenue of $266 million, or 12 per cent, growth on an underlying basis and EBITDA of $77 million."DP World is implementing 11 new developments and expansions worldwide, which include the London Gateway deep-sea port, scheduled to open in the fourth quarter of 2013, reported Dubai's Khaleej Times, adding that it handled nearly 55 million TEU across its portfolio from the Americas to Asia.
The port operator has carried out projects to develop various emerging markets in India, China and the Middle East. It expects to increase its container handling capacity to 103 million TEU by 2020.