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DP World reports strong H1/2017

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Dubai-headquartered port and terminal operator DP World has reported its H1/2017 results. In total, revenue grew by 9.6% (+3% vis-à-vis H1/2016) and adjusted ebitda by 4.2% (+ 7%). Total containerized revenue rose by 4.2%.

H1/2017 profit attributable to company owners amounted to USD 606 million, and the cash from operating activities overshot the USD 1 billion mark (H1/2016: USD 905 million).

The 2017 investments continue unchanged at USD 1.2 billion; the money will flow into Jebel Ali (UAE), London Gateway (UK), Prince Rupert (Canada) and Berbera (Somaliland). In the period under review, the DP World subsidiary P&O Maritime acquired the Spanish maritime service operator Reyser.

The group attributed its enhanced results to "a better trading environment" in H1/2017 and "market share gains from the new shipping alliances". Volumes noted a particularly strong upsurge in Q2/2017.

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