AD Ports faces DP World in Luandan venture
The prospect of neighboring port operators from Dubai and Abu Dhabi locked in competition within ...
Dubai’s DP World, the third largest container terminal operator, this morning announced 2013 result which beat most analysts’ predictions and delivered some $604m of profit to the company. However, it was not all plain sailing. While its strategy of selling off non-core assets in Australia appears to have paid off, its focus on the emerging markets of Asia-Pacific is not without its challenges and revenue from the region declined by 22.2% – partly this was due to the sales of some assets in which it held minority stakes, but it is also the result of weaker-than-expected volumes and currency depreciation.
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