DP World is the current leader in the global trade industry and an important branch of the international supply chain.
In the first quarter of 2016, the global trade giant reported a net profit of $608 million, reporting a 50,2% increase from last year’s first quarter.
According to Wall Street Journal, DP World’s last year’s turnover was $2,1 billion, with a 10,2% rise from the 2015 first quarter.
Currently, the Dubai-based company has 77 operating marine and 37,000 employees in 110 different countries.
Apparently, the impressive numbers registered in 2016 are due to the positive evolution of the operating points from the European countries and India, while the terminals from Australia and Latin America are not very profitable.
CEO Sultan Ahmed bin Sulayeam revealed that things are looking pretty good for the company.
During their activity, DP World invested $586 million in India, Turkey, U.K. and the United Arab Emirates.
The company said it is delaying expansion of its flagship Jebel Ali port in Dubai owing to “softer market conditions.
Dubai Ports International (DPI) was founded in 1999 by the Dubai Ports Authority and Dubai Ports International.
They achieved global recognition in 2006 after they purchased the fourth-largest ports operator in the world, The Peninsular, and Oriental Steam Navigation Company.
Since then, they’ve been unstoppable. In 2012, the U.S Customs and Border Patrol certified the global trade giant as an official partner in the Customs-Trade Partnership Against Terrorism (C TPAT). DP World does not currently operate in the United States.
Source: StockNews USA