Tuesday 27 October 2009

DP World sees tough Q4; CFO to join parent firm

Port operator DP World DPW.DI reported a 6-percent fall in third-quarter container volumes on Tuesday and said its 2009 results would be in line with market expectations despite a challenging fourth quarter ahead.

The firm also said its chief financial officer would step down at its December board meeting and join state-linked parent company Dubai World as group CFO, adding that no replacement had yet been found. [ID:nLR395474]

The decline in container volumes meant a 8 percent fall year on year for the nine months to Sept. 30, DP World said in a statement on the Nasdaq Dubai exchange website.

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