Port operator DP World said Thursday its profit more than tripled in the first half of the year as trade increased and it booked a large gain by selling off much of its Australian business.
Even without that one-time boost, the Dubai-based cargo handler said profit was up 36 percent. But the world's third-largest port operator cautioned that its forecast for the second half of 2011 - typically a stronger period for the industry - remains foggy amid renewed concerns about a global slowdown.
"There is uncertainty around the outlook for the global economy, making it more challenging to forecast how global trade will develop," said Chief Executive Mohammed Sharaf. He added that "the impact of this uncertainty has not, as yet, been reflected in the markets in which we operate."
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