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Dubai's DP World says first-half profit jumps almost 52%

Dubai's DP World says first-half profit jumps almost 52%
Dubai's DP World says first-half profit jumps almost 52%   -   Copyright  Thomson Reuters 2021
By Reuters

By Hadeel Al Sayegh

DUBAI – Dubai’s DP World said on Thursday profit jumped almost 52% in the first half of 2021, fuelled by higher consumer spending and a rebound in global trade since the coronavirus pandemic.

DP World, one of the world’s biggest port operators, said profit attributable to owners of the company jumped to $475 million in the period ended June 30, from $313 million last year.

Revenues rose 21% to $4.95 billion, from $4.0 billion in the year earlier period, the company said in a statement.

“Overall, the near-term outlook remains positive, and while we are mindful that the Covid-19 pandemic and geopolitical uncertainty could once-again disrupt the global economic recovery, we remain positive on the medium to long-term fundamentals of the industry and DP Worlds ability to continue to deliver sustainable returns”, DP World’s group chairman and chief executive Sultan Ahmed Bin Sulayem said.