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Marine terminal operator DP World has announced an impressive set of financial results from its global portfolio for 2014. Like-for-like revenue grew by 11% and profits of US$ 675 million for the 12 month period represented a rise of 25%.
The recently revealed annual figures for DP World demonstrated that the group had invested over US$ 800 million across its portfolio in 2014. As well as adding 2 million teu of capacity at Jebel Ali, progress was made on new projects in Mumbai, India; Yarimca, Turkey; and Rotterdam, Netherlands, all of which are expected to be commissioned in 2015. By the end of this year DP World expects to have around 85 million teu of gross global capacity, an increase of 15 million teu since 2012.
Group chief executive, Mohammed Sharaf, commented: “This robust set of results was driven by DP World’s long-term strategic approach, the company’s focus on faster growing markets and continued investment in its people, innovation and world-class technology, as well as sustainable investment in new capacity.”
He also pointed out that DP World has made an encouraging start to 2015, with trading in line with expectations. “Whilst macro-economic conditions and geopolitical issues across some locations remain uncertain, we believe our portfolio is well positioned to deliver volume growth in line with, or slightly ahead of the market this year,” Mohammed Sharaf added.
As a reflection of strengthening ties between the UAE and the Maldives, DP World has recently signed a Memorandum of Understanding (MoU) for the development of the archipelago’s ports and logistics industry. DP World will work with the Maldivian government to help diversify the economy through building infrastructure, logistics and transport links needed to make this happen.
