Arab Today, arab today aed 53 bn generated cash balance for dp world in 2015
Last Updated : GMT 06:34:14
Arab Today, arab today
Arab Today, arab today

AED 5.3 bn generated cash balance for DP World in 2015

Arab Today, arab today

Arab Today, arab today AED 5.3 bn generated cash balance for DP World in 2015

DP World
Dubai - WAM

DP World generated a cash flow of $1.43 bn (AED 5.3 bn) as at December 31, 2015, in spite of the global economic slowdown and world trade slump. The strong cash generation is due to the Group's ambitious expansion plan and growth of its portfolio of global terminals and business volumes, particularly in Mumbai in India and Yarimca in Turkey both of which added 800k TEU of capacity each, in addition to 850k TEU capacity which came in line with the acquisition of Prince Rupert terminal in Canada, and continued expansion in London Gateway Logistics Park in UK and Jebel Ali Freezone in UAE.

It is expected that DP World will make good use of such remarkable business growth and available cash pile to further boost its operations locally and worldwide. The Group has allocated around $1.2bn to $1.4bn of capital expenditure for investments planned into Jebel Ali and Jebel Ali Freezone , UAE, London Gateway in the UK and Prince Rupert in Canada over the year 2016.

The Dubai-based global ports operator sets the UAE at the vanguard of world economy as a global provider of knowhow and expertise in many industries, including ports, free zones, trade, freight and logistics. The company is also a great enabler of national economic diversification, besides its role in supporting the economies of friendly nations.

Boasting a solid portfolio of 70 marine and mainland terminals across the six continents, DP World predicts to have approximately 86 million TEU of gross global capacity by the end of 2016, an increase of nearly 15 million TEU since 2012, and over 100 million TEU of gross capacity by 2020.

Sultan Ahmed bin Sulayem, Chairman and CEO of DP World and Chairman of Ports, Customs and Free Zone Corporation (PCFC), said the milestones achieved by the Group over its existence are attributed to the directives of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai. "These achievements culminated in a historic profit growth of 30.7% to $883 million (AED 3.24 bn) during 2015, and revenues up by 16% to $3.97 bn (AED 14.6 bn). DP World looks forward to making an even greater contribution to the nation's looming transition to 'post-oil future' by strongly supporting sustainable development of the UAE and Dubai in particular to realize the aspirations of UAE Vision 2021 and Dubai Plan 2021."

The Chairman added that DP World will continue to expand its investments and add further capacity at home and overseas. Last year, the company invested approximately $5.4 billion (AED 19.8 bn) with $4.0 bn (AED 14.6 bn) in strategic acquisitions, which included Economic Zones World (UAE), inland terminals in Mannheim and Stuttgart (Germany) and the Fairview Container Terminal in Prince Rupert (Canada), a key gateway port for trans-pacific trade; and $1.4 billion (AED 5.1 bn) in capex during the year, including projects in India, Turkey, UAE and UK.

Source:WAM

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today aed 53 bn generated cash balance for dp world in 2015 Arab Today, arab today aed 53 bn generated cash balance for dp world in 2015

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today aed 53 bn generated cash balance for dp world in 2015 Arab Today, arab today aed 53 bn generated cash balance for dp world in 2015

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today EasyJet, Lufthansa among seven to bid

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Fighters celebrate Raqa victory

GMT 06:07 2017 Wednesday ,18 October

Fighters celebrate Raqa victory
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Sidem reveals plan to improve education

GMT 15:52 2017 Friday ,06 October

Sidem reveals plan to improve education
Arab Today, arab today British actress becomes fifth woman

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman
Arab Today, arab today Climate-disrupting volcanoes helped topple

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Britain's Vauxhall to cut 400 jobs

GMT 10:53 2017 Sunday ,15 October

Britain's Vauxhall to cut 400 jobs
Arab Today, arab today Dalal Abdel Aziz happy for “Seventh Neighbor”

GMT 09:31 2017 Monday ,16 October

Dalal Abdel Aziz happy for “Seventh Neighbor”
Arab Today, arab today Three killed, 360,000 without power

GMT 05:11 2017 Tuesday ,17 October

Three killed, 360,000 without power

GMT 12:33 2017 Friday ,13 October

Anoshka happy for reactions to her talk show

GMT 10:37 2017 Thursday ,12 October

Cara Delevingne accuses Weinstein

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 18:49 2017 Monday ,16 October

India to close colonial-era military farms

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 23:42 2017 Monday ,16 October

Better Marriages Make

GMT 07:02 2017 Sunday ,15 October

German minister sparks uproar

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 03:59 2017 Sunday ,15 October

US mobile carriers Sprint, T-Mobile to merge

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday