DP World shares surge on half year results

18 August 2010

The DFM General Index started the day positively but failed to sustain its momentum and ended 0.39% lower at 1,481.52 points, dragged down by fickle real estate and financial shares. Dubai Ports (DP) World topped the list of gaining shares by closing 3.13% higher at 0.495 US-Dollars. DP World, which is listed at the Nasdaq Dubai and the DFM simultaneously, reported for the first six months net profit after tax from continuing operations up 10% to $206 million (compared to $188 million in H1 2009). DP World shares traded sideways since June after its management decided to postpone a dual listing at the London Stock Exchange (LSE) to 2011. Traded value declined at the DFM by 13% to Dhs55.95m while 39.56m stocks changed hands (down 14%).

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