Global port terminals and logistics giant DP World has recently announced strong financial results for the year ending on December 31, 2018. The revenue of the company shot up to $5.6 billion which marks an impressive 19.8 percent growth. The profit margin went up by 5.1 percent at $1,270 million.
The staggering growth in revenue has been driven by acquisition of Drydocks World, Dubai Maritime City (DMC), Cosmos Agencia Maritima, Continental Warehousing Corporation (CWC)and Santos consolidation. Like-for-like revenue increased by 4.2% driven by a 6.3% increase in total containerized revenue. Commenting on the results, DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said, “ We have made good progress in delivering on our strategy of strengthening our portfolio to become a global solution provider and trade enabler with approximately $2.5 billion worth of acquisitions announced in the year. These acquisitions offer strong growth opportunities and enhance DP World’s presence in the global supply chain as we continue to diversify our revenue base and look at opportunities to connect directly with the owners of cargo and aggregators of demand.”