DP World saw strong growth in 2011

DP_World_growthDP World posted a record year for container handling, with over 54.7mn TEU handled in 2011.DP World posted a record year for container handling, with over 54.7mn TEU handled in 2011, an increase of 10 per cent over 2010.

Comparitive volume growth was equally strong at 9 per cent when matched with last year, the company said.

Strong performance

The growth was driven by a strong performance in the UAE region which delivered volume growth of 12 per cent handling 13 million TEU for the year, the statement said. The UAE region delivered yet another record performance culminating in 16 per cent volume growth in the final quarter of 2011, it added.

Chairman Sultan Ahmed Bin Sulayem said: "DP World delivered another strong performance in the final quarter of the year despite the macro economic uncertainty. Our flagship terminal in the UAE has yet again exceeded all expectations delivering another record year as it continues to position itself as the gateway port of choice to handle cargo destined for the Middle East, India and Africa regions."

Will achieve full year EBITDA

"Whilst uncertainty continues to affect the global economy, our business is still performing well. We made good progress through the fourth quarter of 2011 and we will achieve 2011 full year EBITDA in line with expectations. Lower than expected net financing charges will benefit reported profit before tax," he added.

DP World operates more than 60 terminals across six continents, with container handling generating around 80 per cent of its revenue.

Alain Charles Publishing, University House, 11-13 Lower Grosvenor Place, London, SW1W 0EX, UK
T: +44 20 7834 7676, F: +44 20 7973 0076, W: www.alaincharles.com

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