Port operator DP World half-yearly profits up 50pct

AP , Thursday 18 Aug 2016

One of the world's largest international port operators, DP World, has announced a 50-percent rise in profits of $609 million attributable to shareholders for the first half of the year.

The Dubai-based port operator said Thursday its half-year revenues peaked to $2.09 billion, up from $1.9 billion the same time last year.

DP World's acquisitions of Dubai's Jebel Ali Free Zone and Canada's Prince Rupert Terminal attributed to some of that growth.

DP World, which trades on the Nasdaq Dubai, ranks among the world's largest port operators, with business at 70 marine terminals in 31 countries around the world. The government-backed firm's full-year revenues in 2015 were $3.9 billion, with profits of $883 million.

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