News / Diversity pays off for DP World as profits rise strongly in a weakened market

Betting big on logistics looks likely to pay off for DP World, with the port operator reporting double-digit profit growth, despite a weakened container market.

Profits (reported as adjusted ebitda) climbed 21.9%, to $1.6bn, on the back of $3.4bn in revenues, up 31.9%, during the first six months of 2019.

Chief executive Ahmed Bin Sulayem said: “DP World is pleased to report like-for-like earnings growth of 22% in the first half of 2019 and attributable earnings of $753m.

Group volumes inched up, albeit ...