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DP World's expansion paying off so far
Photo: DP World
The first six months of 2021 were good to DP World. The port, terminal, logistics and short sea operator generated revenues of USD 4.94 billion (+21.3%), while net profit for the period rose to USD 585 million (+75,4%). In volumes, DP World handled 38.6 million teu over the period.
Chairman and CEO Sultan Bin Sulayem commented that "our recently announced acquisitions of Imperial Logistics and syncreon bring value-added capabilities." DP World's India operations were again a main driver of growth, while those in Australia and UK also surged in H1/2021.
Cargo throughput grew substantially by 13.9%. The company is retaining an earlier forecast of USD 1.2 billion, with investments planned in the UAE, Canada, Jeddah, Berbera in Somaliland, Sokhna in Egypt, Luanda (Angola), P&O Ferries, London Gateway and Callao (Peru) in 2021. (cd)