Dubai-based port firm DP World reports $1.29B profit in 2018

Sultan Ahmed bin Sulayem, the group chairman and CEO of Dubai-backed port operator DP World, left, speaks with DP World's Chief Financial Officer Yuvraj Narayan, in Dubai, United Arab Emirates, Thursday, March 14, 2019. Global port operator DP World said Thursday its profit rose 10 percent in 2018, overcoming worldwide tensions over trade amid a trade war between China and the U.S. and fears about Britain leaving the European Union. (AP Photo/Jon Gambrell)
FILE - In this Feb. 8, 2009 file photo, cranes off load containers at the Jebel Ali Port Terminal 2 in Dubai, United Arab Emirates. Global port operator DP World said Thursday its profit rose 10 percent in 2018, overcoming worldwide tensions over trade amid a trade war between China and the U.S. and fears about Britain leaving the European Union. (AP Photo/Kamran Jebreili, File)

DUBAI, United Arab Emirates — Global port operator DP World says its profit rose 10 percent 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 percent for the port operator.

DP World has expanded aggressively into new markets, including into East Africa, where the Emirati government as well has 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.

People also read these

New boy muppet in Afghanistan promotes gender...

Jul 15, 2017

A new muppet is joining the cast of Afghanistan's version of "Sesame Street: Zeerak, who will show...

Watchdog: Tight security hinders oversight of US...

Aug 1, 2017

The U.S. watchdog tasked with overseeing the spending of U.S. aid to Afghanistan said unprecedented...

Kabul catwalk: Afghan models show off traditional...

Aug 17, 2017

Amid tight security, Afghan models promote traditional clothing of country's ethnic groups in rare...

Taliban suicide bomber targets Kabul bank, kills...

Aug 29, 2017

Taliban claim responsibility for suicide bombing in central Kabul near banks, US Embassy, that...

Suicide bomber kills 3 outside Afghan cricket...

Sep 13, 2017

Afghan officials say a suicide bomber has struck outside a cricket stadium during a match in the...

About Us

Get all the up-to-date breaking news about politics, business, entertainment, sports, lifestyles, weather, traffic, and local news in a seamless digital environment only in Morning Dispatcher.

Contact us: sales[at]morningdispatcher.com

Subscribe Now!

Quick Links

HomePress