DP World H1 profits down 32% to $188 million.Global container port operator DP World has announced a net profit after tax of $188 million during the first six months of the year from its portfolio of 49 marine terminals, a 32 per cent decline from $287 million in the corresponding period last year.
The consolidated throughput The speed with which a computer processes data. It is a combination of internal processing speed, peripheral speeds (I/O) and the efficiency of the operating system and other system software all working together.
1. was 12.3 million TEUs compared to 13.6 million during the same period last year. DP World recorded a revenue of $1.384 billion compared to $1.598 billion during the previous period. "The first six months of 2009 have continued to present a very challenging operating environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. across the portfolio.
Despite the 10 per cent decline in container volumes, EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become margins have remained strong at 38.7 per cent, which is primarily as a result of solid results from emerging market terminals, improving terminal efficiencies and a strong focus on managing costs across our portfolio," said a statement. During the period the company was awarded new concession agreements Concession Agreement
A right granted by a government to a corporation. It specifies rules under which the company can operate locally.
Some concession agreements might include tax breaks for the corporation, in order to keep them from moving to another jurisdiction. in Algeria Algeria (ăljēr`ēə), Arab. Al Djazair, Fr. Algérie, officially People's Democratic Republic of Algeria, republic (2005 est. pop. , for ports in Algiers and Djen-Djen, which began operating in the second quarter.
It also renewed two concessions in Australia in Adelaide and Sydney, for a further 30 years and 15 years respectively, and began operations at new development Doraleh, Djibouti. "Our terminals in the UAE (Uninterruptible Application Error) The name given to a crash in Windows 3.0. In subsequent versions of Windows, a crash was called a "General Protection Fault," "Application Error" or "Illegal Operation." See crash in Windows and abend. delivered a solid performance, working with our customers to handle larger container vessels and deliver a cost efficient platform from which customers are able to deliver cargo around the Gulf and Middle East and further afield into India and Africa," the statement said.
Chief executive officer Mohammed Sharaf commented: "Our business has responded well to the very challenging macroeconomic mac·ro·ec·o·nom·ics
n. (used with a sing. verb)
The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. environment in the first half of this year which resulted in a 10 per cent decline in container volumes. "These results show that our business model has the flexibility to adapt to changing market environments.
All our terminals around the world have worked very hard to improve efficiencies for customers and remove costs from the terminals to ensure we continue to operate efficient and profitable terminals.
The quick action of management has resulted in a more positive outcome than might otherwise have been.
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