Dubai - Mubasher: The net profits of DP World plunged by 56% to $333 million during the first half (H1) of 2020, compared to $753 million in the same period of 2019, according to Reuters.
Lower net profits are driven by the global supply chain disruption due to the coronavirus (COVID-19) lockdown and the suspension of factories.
Meanwhile, the group's revenues increased by 18% to $4.1 billion in the first six months of 2020, when compared to the year-ago period.
The container volumes totalled 33.8 million in the January-June period of 2020, down 5.3% from the corresponding period of 2019.
It is noteworthy to mention that in 2019, DP World recorded a 0.6% rise in net profits to $1.341 billion, compared to $1.333 billion in 2018.
