DP World: Success is about being selective
Global operator, DP World says that the secret to its successful strategy is to continue to break into new markets and exploit those terminals which will provide the best return on investment.
In a conference talking about its financial year end for 2013, the operator revealed that its profit grew by 27% up until 31 December 2013.
This equates to profits of around US$604m largely owing to a 4.6% increase in container revenue during the period.
DP World chairman, HE Sultan Ahmed Bin Sulayem, said that the operator’s success was largely down to continued investment in quality long term assets driving forward growth.
Last year, Jebel Ali added 1m teu of extra capacity for the operator and new projects at Embraport in Brazil and the London Gateway in the UK added another 3m teu, helping to drive up throughput.
Mr HE Sultan Ahmed Bin Sulayem said: “We are continually looking for new markets and those areas that will give best return on investment. That is what drives our strategy.”
DP World Group chief executive officer, Mohammed Sharaf, added that Africa and Latin America continue to perform well for the operator.
Of course, the key to being selective he said, was having “enough capital to be selective where we go.”
A successful set of financial figures has led the DP World board to recommend a total dividend of US$190.9m, or 23 US cents per share – a 10% increase in the ordinary dividend, which will be paid out to shareholders in May.
DP World said it won’t be looking at cashing in any more shares this year though.
The plan for 2014 is to add even more additional capacity at Jebel Ali and also at Rotterdam.
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