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DP World profit drops 32 percent amid trade slump

DP World profit drops 32 percent amid trade slump

Port operator DP World says its profit slumped by nearly a third in the first half of the year as it weathered a "very challenging operating environment" spurred by the global drop in trade.
The Dubai-based cargo handler said Thursday it earned $187.7 million in the six months through June, down from $275.3 during the same period a year earlier. That's a drop of 32 percent.
Revenue fell to $1.38 billion, compared with $1.60 billion a year before.
CEO Mohammed Sharaf says the "unpredictable trends in global trade" of earlier in the year are continuing into the second half.
DP operates 49 ports on six continents, including the Middle East's biggest in Dubai.


Updated : 2021-07-31 07:11 GMT+08:00