DP World is planning to develop two new deepwater terminals in the UAE. Photo: DP WorldShow caption: DP World is planning to develop two new deepwater terminals …Revenue up but profits down due to disruption from Iran war
DP World plans to invest $3 billion in the UAE, Democratic Republic of Congo, India and Saudi Arabia this year.
The ports operator reported a 39 per cent drop in first-half net profit to $585 million, despite a 13 per cent rise in revenue to $12.7 billion.
Rising general and administrative expenses, up 23 per cent to $2.2 billion, and increased finance costs contributed to the profit decline.
Two new deepwater terminals in Fujairah will offer a direct global trade route, bypassing the Strait of Hormuz, developed under a 50-year concession.
