Arab Today, arab today dubai\s dp world reports flat h1 profits
Last Updated : GMT 12:34:44
Arab Today, arab today
Arab Today, arab today

Dubai\'s DP World reports flat H1 profits

Arab Today, arab today

Arab Today, arab today Dubai\'s DP World reports flat H1 profits

Dubai - AFP

Dubai\'s DP World, the world\'s third largest port operator, on Wednesday reported flat profits in the first half of 2012. Net profit stood at $247 million in the first six months, 0.4 percent up from $246 million in the corresponding period of last year. \"In a tougher operating environment, we have reported a good set of results for the first six months, with profit and margin up on the same period last year,\" chief executive officer Mohammed Sharaf said in a statement. Revenues in the first half of 2012 stood at $1.53 billion, 1.8 percent up from $1.502 billion in the first half of last year, the company said. The consolidated throughput of containers handled in its terminals stood at 13.586 million TEU (twenty-foot equivalent unit), up 0.9 percent from 13.470 million TEU. DP World, which operates more than 60 terminals across six continents, said its gross debt has dropped to $4.7 billion, mainly due to the repayment of a $3 billion syndicated loan facility in April.

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