Dubai port operator profits more than double in H1

0 Comments | AFP, August, 2008

DUBAI (AFP) — Dubai-based port operator DP World posted on Thursday a 123 percent increase in net profits in the first half of 2008, which hit 287 million dollars, despite a global economic slowdown.

The world's fourth-largest container port operator said its revenues grew by 32 percent to 1,598 million dollars, compared to the corresponding period last year.

"The business has performed very well in the first half of 2008 despite a deteriorating global financial and economic background, and these uncertainties remain," DP World chief executive officer Mohammed Sharaf said in a statement.

"In the last few months the industry has reported early indications of weakening growth in some markets," he said, but insisted that DP world has "continued to perform ahead...