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  • 12-03-20

    DP World reports 8.3 percent decline in full-year profit

    (MENAFN) The Dubai-headquartered global port operator and owner of the Jebel Ali Free Zone, DP World, reported an 8.3 percent decrease in full-year income on Wednesday.


    In comparison with USD1.297 billion in 2018, income attributable to owners after unconnectedly disclosed items fell to USD1.189billion in 2019 but yearly income climbed by 36 percent on a reported basis to USD7.68 billion, in comparison with USD5.6 billion in 2018, caused mostly by acquisition.


    The acquisitions comprised P&O Ferries in the UK, Topaz Energy & Marine in the UAE, and two terminals in Chile.


    In the year ending 2019, capital expenditures stood at USD1.146billion while capital expenditure for 2020 is increased at USD1.4billion with investments planned in UAE, Prince Rupert in Canada, London Gateway, Jeddah in Saudi Arabia, Callao in Peru, Sokhna in Egypt and Berbera in Somaliland.

    MENAFN1203202000450000ID1099841545

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