Dubai: DP World, one of the world’s largest port operators, reported on Thursday an 11 per cent profit and revenue increase for 2014, driven by increased volumes across its portfolio.
The port operator made $675 million for the year ending December 31, 2014, up 11.7 per cent compared to $604 million a year ago, it announced in a statement to the NASDAQ Dubai bourse. Revenue rose by a similar margin, up 11 per cent from $3.073 billion in 2013 to $3.411 billion for 2014.
“We benefitted from increased volumes across our global portfolio, including Embraport in Brazil and London Gateway in the UK, which came on stream in 2013,” stated DP World Chairman Sultan Ahmed Bin Sulayem.
DP World, whose flagship port is Jebel Ali in Dubai, handled 28,341,000 twenty foot equivalent units (TEUs), a shipping container measurement, across its portfolio in 2014, up 8.7 per cent compared to the 26,077,000 TEUs handled in 2013.
Adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) was $1.588 billion, up 12.3 per cent compared to $1.414 billion in 2013.
Basic earnings per share attributable to the owners rose 11.7 per cent to 81.4 US cents compared to 72.8 US cents a year ago. Ordinary dividend increased 2.1 per cent to 23.5 US cents in 2014 compared to 23 US cents a year earlier.
