DP World, one of the world's largest port operators, posted a 30.7 percent rise in annual profit as revenue jumped in the Middle East, Europe and Africa, the company said on Thursday. DP World's 2015 profit attributable to owners of the company was $883 million, it said in a bourse statement. This compares with a profit of $675 million in 2014. DP World's 2015 revenue was $3.97 billion, up from $3.41 billion a year earlier.
Revenue growth was strongest in the Middle East, Europe and Africa at 22 percent, with growth in Asia Pacific and the Indian Subcontinent rising by 4.4 percent. The company invested $1.4 billion across its portfolio in 2015, with a significant proportion of the cash invested in the expansion of its home port of Jebel Ali, as well as new developments in Mumbai, Yarimca in Turkey and the London Gateway, it said.
In 2016, it expected capital expenditure to reach $1.2 billion to $1.4 billion.
"While 2016 is expected to be another challenging year for global trade, we have made an encouraging start to the year and current trading is in line with group expectations," said DP World executive chairman and chief executive Sultan Ahmed Bin Sulayem.
The company set its 2015 ordinary dividend at $0.30 per share, as against $0.235 paid out for 2014.
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