DP World, a leader in international marine terminal operations and development, logistics and related services, has announced $749-million profit from its global portfolio of marine terminals for the 12 months ended December 31, 2012.
“DP World delivered $749 million profit for the year following a strong year of operational performance from its global operations, prudent financial management and proactive management of assets, while continuing to invest in the future growth of the company,” DP World Chairman, Sultan Ahmed Bin Sulayem said.
Revenues of the Dubai-based company increased 5 per cent to $3,121 million, while profit for the year rose 10 per cent to $749 million.
“DP World continues to improve cash generation with net cash from operating activities at $1,231 million,” the company had said in a statement yesterday.
“This has helped reduce net debt to $2.9 billion and strengthen our balance sheet, positioning us strongly as we continue to invest in quality long-term assets,” it said.