Port operator DP World posts US$1.2b profit

Business | 14 Mar 2019 3:35 pm

Global port operator DP World says today profit grew by 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 reported profits of around US$1.29 billion, up from around US$1.17 billion the year before.

Its revenue for the year was US$5.6 billion, up from US$4.7 billion the year prior. That is 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.

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