In 2016 the terminal operator DP world has increased its net profit to 1.3 bn $. That was 29.9 % more than in the year before. The revenues rose by 4.9 % year-on-year to 4.2 bn $.
The port operator attributed the gain to full year contributions from its terminal operations at the[ds_preview] Jebel Ali Free Zone in UAE and Prince Rupert port in Canada. The consolidated throughput rose by 0.4 % to 29,240,000 TEU despite challenging industry conditions.
The containerised revenue per TEU also increased by 4.0 % while the total revenue per TEU rose by 3.0 % on a like-for-like basis.
The total containerised revenue climbs by 3.8 % on a reported basis as containerised other revenue rose by 6.1%. The non-container revenue gained by 7.5 % on a reported basis.
According to the port operator it saw cash from operating activities increase to 2.0 bn $ from 1.9 bn $ in 2015, and the free cash flow rise to 1.7 bn $ from 1.6 bn $ in the 2015 period.
DP World expects further challenges for 2017
»While 2017 is expected to be another challenging year for global trade, we have made an encouraging start to the year and we expect to continue to deliver ahead-of-market volume growth,« said DP World group chairman Sultan Ahmed bin Sulayem.
The aim of the company is to continue their disciplined approach to capital allocation in markets with strong growth potential while adding complementary or related services to further diversify and strengthen their business.
»Overall, we continue to believe that a portfolio which has a 70 % exposure to origin and destination cargo and 75 % exposure to faster growing markets will enable us to deliver enhanced shareholder value over the long term«, he added.
