Dubai-Mubasher: UAE’s port operator DP World reported a 28.2% increase in its net earnings for the year 2015, according to the company’s press release.
The port operator’s full-year net earnings reached $970 million, compared with $757 million a year earlier.
The company will distribute cash dividend at $0.30per share, totalling $249 million.
Chairman and CEO Sultan bin Sulayem said this financial performance has been achieved despite uncertain market conditions, which once again demonstrates the well-diversified and resilient nature of DP World’s portfolio, with its focus on high growth markets.
“In 2015, we have invested approximately $5.4 billion, with $4.0 billion in acquisitions and $1.4 billion in capex, and this investment leaves us well placed to capitalise on the significant medium to long-term growth potential of this industry,” he added.
The chairman also said while 2016 is expected to be another challenging year for global trade, DP World has made an encouraging start to the year and current trading is in line with group expectations.
“Macro-economic conditions and geopolitical issues across some locations remain uncertain but we believe our portfolio is well positioned to deliver volume growth ahead of the market this year,” he said.
He added that his company remains on course to deliver over 100 million TEU of capacity by 2020, while maintaining the existing shape of its portfolio that has a 70% exposure to origin and destination cargo and 75% exposure to faster growing markets.
