DP World reports 7.5% increase in h1

In the first six months of the year, DP World handled 28.2 million TEU (twenty foot equivalent units) across its global portfolio of over 60 terminals, 7.5% ahead of the same period last year. Like for like gross volume growth was 5.4%. The Asia Pacific and Indian Subcontinent region was the main driver of this growth, reporting a 12.1% increase in volumes to 13.3 million TEU. This strong performance was driven by growth across our terminals in Asia Pacific as well as new capacity across the region as a whole. The Americas and Australia region grew volumes by 6.1% to 3.3 million TEU as solid growth in the Americas mitigated a more challenging environment in Australia. The Europe, Middle East and Africa region grew 3.2% to 11.6 million TEU. Weaker trade across Europe masked the stronger performance across the rest of the region including in Jebel Ali, UAE which handled 6.6 million TEU in the first six months of the year, 7.3% ahead of the same period last year. Our portfolio of consolidated terminals reported volumes of 13.6 million TEU in the first six months of the year. Underlying volume growth would have been 5.5% when compared to the same period last year, had our five terminals in Australia not been deconsolidated from 12 March 2011. Sultan Ahmed Bin Sulayem, Group Chairman of DP World commented:- "DP World has continued to deliver a robust performance in the first six months of this year. This reflects the benefits of managing a superior global portfolio which is strategically diversified across emerging markets and focused on handling core import and export cargo." Group Chief Executive Mohammed Sharaf commented:- "The number of containers handled across our portfolio of global ports has increased again, with 28.2 million containers handled in the first six months of the year. With gross volume growth of 7.5%, DP World continues to deliver growth ahead of the industry. "The global macroeconomic uncertainty seen in the first quarter of the year has continued, and if anything, has increased through the second quarter. Despite this more challenging 2 environment, the majority of our global portfolio continues to show resilience and we remain committed to delivering an improved operational and financial performance over 2011." Results for the half year to 30 June 2012 will be announced on Wednesday 29 August.