DP World see profits rise in 2012

DP World profits saw a 10% rise in 2012 DP World profits saw a 10% rise in 2012
Industry Database

DP World announced that its 12 month profit to the end of 31 December 2012 was US$749m – an increase of 10%, largely due to strong operational performance, effective asset management and continued investment.

Sultan Ahmed Bin Sulayem, DP World chairman, said this morning in a teleconference: “Delivering this improvement in profits during what has been a challenging operating environment shows that our portfolio is focused on the right markets, and on delivering the right operations and service to our customers.”

He added that the management of the DP World portfolio and the divestment of non-core or low return assets have also been central to strengthening the operator's balance sheet.

Over the last year, it is the strong performance of its operations in Africa, the Middle East, South America and Asia which have helped to balance the more challenging areas of continental Europe, North American and Australia.

Mohammed Sharaf, DP World group chief executive, pointed out that 2012 strategy was all about progressing the delivery of the operator’s four main development projects around the world and working towards increasing capacity.

And some of this extra capacity will come to fruition this year. Jebel Ali in the UAE, Embraport in Brazil and the London Gateway in the UK are all part of the plan to deliver 10m teu of capacity over the next two years. Mr Sharaf says that this will be “transformational” for the operator over the medium term.

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