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Dubai port operator DP World posts US$1.13b income

Business | Mar 20, 2017 21:58
Dubai-based DP World, one of the world's largest international port operators, says its full-year profits in 2016 grew by nearly 28 percent and revenue climbed almost 5 percent. 
The company said operations in Dubai's Jebel Ali Free Zone and Canada's Prince Rupert Terminal helped buoy its earnings to US$1.13 billion, an increase of nearly US$250 million from its 2015 profits. 
The government-backed port operator's revenues in 2016 reached US$4.16 billion compared to US$3.9 billion in 2015. DP World, which trades on the Nasdaq Dubai, operates more than 77 ports in 40 countries. 
The firm projects US$1.2 billion in capital expenditure this year with investments planned in ports in the United Arab Emirates, Canada, Senegal, the UK and Somaliland.-AP
 


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