Dubai – Mubasher: DP World on Thursday reported a 7.6% year-on-year jump in its profits for the full-year 2018.
Net profits registered AED 4.67 billion ($1.27 billion) during the year ended 31 December 2018, the Dubai-based ports operator said in a statement.
Revenues of DP World, the world's fourth-biggest ports operator, increased by 19.8% year-on-year to AED 20.7 billion ($5.64 billion) in 2018.
Earnings per share (EPS) reached 153 cents, according to the statement.
“We have made good progress in delivering on our strategy of strengthening our portfolio to become a global solution provider and trade enabler with approximately $2.5 billion worth of acquisitions announced in the year,” Sultan Ahmed Bin Sulayem, CEO and chairman of DP World, commented.
He added that these acquisitions offered strong growth opportunities, enhancing the company’s presence in the global supply chain.
“We continue to diversify our revenue base and look at opportunities to connect directly with the owners of cargo and aggregators of demand,” Bin Sulayem noted.
Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) grew 13.7% and achieved an EBITDA margin for the full year of 49.7%, the statement said.
Moreover, the ordinary dividend increased by 4.9% to 43 cents to reflect earnings growth in 2018.
“DP World continued to invest in solution providers and acquired the integrated multimodal logistics player Continental Warehousing Corporation (CWC) in India, Cosmos Agencia Marítima in Peru, and the Unifeeder Group in Denmark, which operates the largest container common user feeder and growing the shortsea network in Europe,” the statement highlighted.
