The Dubai-based container terminal operator increased its profits, revenues and throughput in 2017 from the prior year.
DP World, one of the largest container terminal operators in the world, reported higher throughput, revenues and profits in 2017 when compared to 2016.
Sultan Ahmed Bin Sulayem, the chairman and chief executive officer of the Dubai-based terminal operator, said his company has plans to expand into “complementary sectors in the global supply chain.”
DP World posted profits of $1.36 billion on revenues of $4.72 billion in 2017, with its terminals handling over 70 million TEUs during the year.
In 2016, the company recorded profits of $1.26 billion on revenues of $4.16 billion, and volumes totaling 63.7 million TEUs.
“In recent years, we have leveraged on our in-house expertise to extend our core business into port-related, maritime, transportation and logistics sectors with the objective of diversifying our revenue base and connecting directly with the owners of cargo and aggregators of demand to remove inefficiencies in trade, improve the quality of our earnings, and drive returns,” Sulayem said.
“Going forward, we expect this trend to continue as we seek opportunities in complementary sectors in the global supply chain and also make use of new technology and data solutions to provide better service to our customers,” he added.
DP World invested over $1 billion across its portfolio last year in markets that had “strong demand and supply dynamics,” Sulayem said.
Looking ahead, he said, DP World “will maintain capital expenditure discipline by bringing capacity in line with demand.”
DP World reports prosperous 2017
