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Earnings and boxes up at DP World

[ August 20, 2024   //   ]

DP World reported an increase in revenue increased of 3.3% to $9,335 million, driven by its ports and terminals and like-for-like gross container volume growth of 6.1%  in its results for the first six months to 30 June 2024.

Adjusted EBITDA earnings fell  4.3% to $2,497 million due to Red Sea disruption and investment in logistics platform expansion.  

Capital expenditure guidance for 2024 is expected to be $2.0 billion including London Gateway in the UK along with schemes in India, Senegal, Indonesia, Peru, Saudi Arabia, Tanzania and Canada.

Group Chairman and chief executive, Sultan Ahmed Bin Sulayem, said that the company’s logistics investments have been focused on organically expanding the freight forwarding platform, which now encompasses over 90% of global trade across more than 150 locations worldwide.

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