Dubai-based port firm DP World reports $1.29B profit in 2018
Posted March 13, 2019 11:07 pm.
This article is more than 5 years old.
DUBAI, United Arab Emirates — Global port operator DP World says its profit rose 10 per cent in 2018 despite worldwide tensions over trade amid a trade war between China and the U.S. and fears about Britain leaving the European Union.
The port operator on Thursday reported profits of around $1.29 billion, up from around $1.17 billion the year before.
Its revenue for the year was $5.6 billion, up from $4.7 billion the year prior. That’s a revenue increase of 19.8 per cent for the port operator.
DP World has expanded aggressively into new markets, including into East Africa, where the Emirati government as well as begun building new military bases. In February, Al-Shabab militants shot and killed a Maltese man working for DP World in Somalia, saying the UAE firm “occupies” the area.
The Associated Press
