(MENAFN) Dubai World, one of the world's largest port operators, said its net profit went up 21.9 percent in the January-June period, driven by the acquisition of logistics infrastructure firm EZW.
The company, one of the more profitable assets of debt-laden Dubai World, posted a first-half net profit of USD405 million. This compared with a profit of USD332 million in the same period a year earlier.
DP World's revenue for the six months to June 30 was USD1.90 billion, up from USD1.66 billion a year earlier. Revenue growth was helped by acquisitions including the purchase of EZW from Dubai World.
"We remain on course to deliver over 100 million TEU of capacity by 2020, while maintaining the existing shape of our portfolio that has a 70 percent exposure to origin and destination cargo," DP World chairman said.
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