UAE/TURKISH BUSINESS RELATIONS

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• Profits up for UAE ports operator

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  Dr. Nilgün Birgören    Premium Member   Group moderator

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  Profits up for UAE ports operator

  UAE container ports operator DP World has reported strong full-year profits, citing an increase in the volume of cargo shipping and cost savings.
  
  DP World revealed a 2010 full-year net profit of $450m, compared with $333m for the year before.
  
  In December, the firm sold a 75% stake in its Australian ports for $1.5bn in order to reduce its debt levels.
  
  The operator said that the results put it on track to list on the London Stock Exchange.
  
  DP World is one of the biggest ports operators in the world and is seen as one of the more healthy parts of the debt-laden Dubai World.
  
  Dubai World manages investments for the Emirate of Dubai, including foreign investments and major real estate concerns, such as the luxury palm islands development.
  
  • 26 Mar 2011, 5:14 pm
  Dr. Nilgün Birgören wrote: > UAE container ports operator DP World has reported strong full-year > profits, citing an increase in the volume of cargo shipping and cost > savings. > > DP World revealed a 2010 full-year net profit of $450m, compared with > $333m for the year before. > > In December, the firm sold a 75% stake in its Australian ports for > $1.5bn in order to reduce its debt levels. > > The operator said that the results put it on track to list on the > London Stock Exchange. > > DP World is one of the biggest ports operators in the world and is > seen as one of the more healthy parts of the debt-laden Dubai World. > > Dubai World manages investments for the Emirate of Dubai, including > foreign investments and major real estate concerns, such as the > luxury palm islands development.