Dubai Port chief highlights rebound in global trade in second quarter of 2017
Earnings attributable to company owners, however, declined by 0.3 per cent to reach $606m resulting in a similar decline in earnings per share (EPS) of 73 cents.
The share of profit from equity-accounted investees also declined by 12.7 per cent to reach $60m.
Like-for-like comparison for the period, which excludes new capacity during the reporting period, shows a positive performance with earnings attributable to owners growing by 15.8 per cent.
After a challenging period, we have seen a pick-up in global trade particularly in the second quarter of the year, DP World Group Chairman and CEO, Sultan Ahmed bin Sulayem, said in a statement.
This trend, along with DP Worlds recent investments in ports at Yarimca in Turkey, London Gateway in the UK, Rotterdam in Netherlands and JNP Mumbai in India, are understood to have enabled the company to deliver above market average volume growth
The executive said they have invested $595m in capital expenditure in key growth markets, and are investing over $170m for acquisitions. Our balance sheet remains strong and we continue to generate high levels of cash flow, Bin Sulayem said.
As in previous first-half reports in recent years, the CEO expressed confidence in meeting full-year market expectations.
|Results before separately disclosed items1unless otherwise stated||1H 2017||1H 2016||As reported % change||Like-for- like at constant currency % change*|
Gross throughput (TEU 000)
Consolidated throughput (TEU 000)
Share of profit from equity-accounted investees
Adjusted EBITDA margin
Profit for the period
Profit for the period attributable to owners of the Company
Profit for the period attributable to owners of the Company after separately disclosed items
Basic earnings per share attributable to owners of the Company (US cents)
Basic earnings per share attributable to owners of the Company after separately disclosed items (US cents)
*Like-for-like at constant currency is without the addition of new capacity at Berbera (Somaliland), Limassol (Cyprus), Saint John (Canada), ISS (Pakistan), CXP (Peru), Yarimca (Turkey) and normalizes for PNC (South Korea) consolidation. Source: DP World
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