DP World profits climb 9% despite fall in volumes - The National

DP World profits climb 9% despite fall in volumes - The National:

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Improved margins and cost controls lifted profits at DP World, the UAE-based global ports operator, in the first half of this year despite challenging economic conditions in world markets.

Financial results for the first half, announced yesterday, showed a 9.1 per cent rise in net profits, against the background of a 5.8 per cent decline in volumes of goods at its 65 marine terminals from Sydney, Australia to Santos, Brazil.

The chairman, Sultan Ahmed bin Sulayem, said the figures represented "another strong set of results in spite of challenging market conditions". He added that conditions had improved in the second quarter and said he was optimistic that trend would continue for the rest of the year."

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