DP World profits grow 22% in H1 boosted by Economic Zone World buy

DP World grew its profits 22% to $455m in H1, thanks in large part to the acquisition of Economic Zone World (EZW), operator of Jebel Ali Free Zone.

First half revenues for the group hit $1.9bn, up from $1.6bn in the same period in 2014, with revenue per teu increasing 2.1%. So far this year DP World invested $3bn in  the acquisition of EZW and Fairview Container Terminal in Canada, which was completed on 18 August. A further $600m has been in invested in the group’s existing projects.

Throughput in the Middle East, Europe and Africa region grew 5.2% to 10.7m teu in H1 2015 compared with 10.2m in H1 2014, while revenues increased 7.3% to $1.3m. This mitigated a 0.4% drop in Australia and Americas throughput, to 1.22m teu, and a 1.5% drop in the Asia Pacific and Indian Subcontinent region throughput to 2.3m teu.

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