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DP World reports 52% higher profits in H1-21

DP World reports 52% higher profits in H1-21
The company generated revenues of $4.945 billion in H1-21

UAE - Mubasher: The net profits attributable to the owners of DP World Limited surged by 51.9% on a reported basis to $475 million during the first half (H1) of 2021, compared to $313 million in the same period of 2020.

The company generated revenues of $4.945 billion in H1-21, up 21.3% from $4.076 billion in the year-ago period, according to a press release on Thursday.

The adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) jumped by 18.2% to $1.813 billion in the January-June period of 2021 from $1.534 billion in the corresponding period of 2020.

The Chairman and CEO of DP World, Sultan Ahmed Bin Sulayem, said: "Our recently announced acquisitions of Imperial Logistics and syncreon bring value-add capabilities in high growth verticals and markets, which will allow us to offer a more compelling set of supply chain solutions."

Sulayem added: "By leveraging our best-in-class infrastructure across inland logistics, ports & terminals, economic zones and marine logistics network, DP World aims to lower inefficiencies and provide improved connectivity in fast growing trade lanes such as Asia, Middle East & Africa."