Dubai – Mubasher: DP World has reported a 26.8% year-on-year profit hike during the first six months of 2019, according to a company statement.
The global trade enabler’s profit went up to $753 million in H1-19, compared to $593 million in the year-ago period.
“Our balance sheet remains strong, and we continue to generate high levels of cash flow, which gives us the ability to invest in the future growth of our current portfolio,” chairman and CEO of DP World, Sultan Ahmed Bin Sulayem, commented.
Revenue surged 32% to $3.46 billion in H1-19, from $2.62 billion in the first half of 2018.
The growth in the company’s revenue was supported by acquisitions and growth in non-containerized revenue.
“While the near-term trade outlook remains uncertain with global trade disputes and regional geopolitics causing uncertainty to the container market, the strong financial performance of the first six months also leaves us well placed to deliver full-year results slightly ahead of market expectations,” Bin Sulayem said.
