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Global ports operator, DP World, has posted an extremely positive set of financial results for 2017. Overall its worldwide revenues rose by 13%, boosted by strong container throughput growth, with revenue per teu up by 0.7%, despite challenging market conditions. Moreover the level of profitability attributable to the owners of the company was 7.3% higher than in the year before at US$1.12 billion.
In 2017 the group invested over US$ 1 billion and said it expects this figure will rise to US$ 1.4 billion in 2018, with investment planned mainly in the UAE, Ecuador, Somaliland, South Korea, Mozambique and Egypt. In addition, DP World has confirmed it has set up a partnership with the Government of India-sponsored National Investment and Infrastructure Fund, to create an investment platform of around US$ 3 billion to acquire assets and develop projects in the ports, transportation and logistics sectors in India.
On the back of the impressive financial results, the DP World Board has recommended increasing the dividend payable to shareholders by 7.9%. DP World group chairman and chief executive, Sultan Ahmed Bin Sulayem, added, “Our significant cash generation and investment partnerships leave us with a strong balance sheet, and the flexibility to capitalise on the significant growth opportunities in the industry, to deliver enhanced shareholder value over the long term.”
The start to trading across the DP World network in 2018 has been “encouraging”, he added. “As we look ahead to 2018, geopolitical headwinds in some regions pose a challenge, but we expect to continue to grow ahead of the market and see increased contributions from our recent investments,” Mr. Sulayem concluded.
