DP World first half volume up 16pc to 23.7 million TEU

DP WORLD has announced that volumes through its 50 terminals has increased 16 per cent in the first half of the year to 23.7 million TEU.

The Dubai government-controlled company posted volume growth of seven per cent, to 13.2 million TEU, at consolidated terminals.


"These first-half volumes, along with the continuation of cost management, will lead to an improvement in first-half profit after tax against the same period last year," said chief executive officer Mohammed Sharaf.


First half net profit increased by 10 per cent compared to the same period last year to reach AED55 million (US$15 million), while revenue totalled AED557 million, up 15 per cent compared to a year earlier.



"Whilst uncertainty remains over the sustainability of trade volumes reported in the first half of the year, we currently expect to deliver full-year results in line with expectations," Mr Sharaf said.


Volume growth in the first half of 2010 was largely driven by DP World`s terminals in Asia and Australia, although some European facilities also started to recover. Volumes at the flagship terminals in the UAE rose by three per cent year on year, reports London`s International Freighting Weekly.


DP World anticipates that growth in container shipping will come chiefly from Asia this year, with the company aiming to start operations at terminals at Vallarpadam in India and Karachi, Pakistan.