DP World increased its profits by 52 percent in the first half of the year
DP World, one of the world's largest logistics and port management companies, increased its profits by 52 percent in the first half of 2021, after the rapid increase in consumption and the recovery in global trade after the coronavirus pandemic. DP World announced that profits rose to $475 million from $313 million last year for the period ending June 30.
21 percent increase in revenues
Company stated that revenues rose 21 percent to $4.95 billion, up from $4 billion which is in the previous year. Sultan Ahmed Bin Sulayem, Group President and CEO of DP World, said, “Overall, the short-term outlook remains positive. We are aware that the Covid-19 pandemic and geopolitical uncertainty may once again disrupt the global economic recovery, but we remain positive about the medium and long-term fundamentals of the industry.”
We thrive on growing trade routes
Sulayem continued “This significant growth shows once again that we are in the right locations and focusing on origin and destination will help to strike the right balance in growth and resilience. Our recently announced acquisitions of Imperial Logistics and Syncreon bring value-added capabilities in high growth and markets. This will enable us to offer a better set of supply chain solutions. By leveraging infrastructure across inland logistics, ports and terminals, DP World aims to increase efficiency and provide enhanced connectivity on fast-growing trade routes such as Asia, the Middle East and Africa.”