A decrease in container volumes is not affecting the bottom line of DP World, the ports operator has reported.
And with recent logistical expansion through last year’s $764-million purchase of Danish company Unifeeder, followed this year by additional take-overs of cross-channel operator P&O Ferries and off-shore energy supply vessel enterprise, Topaz Marine and Energy, DP World’s profits are steeply spiking.
Following adjusted Ebitda (earnings before interest tax deductions and amortisation) figures, revenues are also said to have gone up 21.9% to $1.6 billion.
That translates to profit of $4.3 billion.
Looked at another way, DP World has recorded profit improvement of 31.9% so far this year.
Despite a slowed ocean cargo environment, the company also recorded improved volumes, however slim at only 0.5%, to 35.8 million TEUs for the year’s first six months.
Consolidated volumes did better – up 4.5% to 19.5 million TEUs.
