Flagship Dubai firms in better first-half show

DUBAI - Dubai’s two flagship global companies — DP World and Emaar — on Tuesday recorded positive first-half performance, underscoring the emirate’s business resilience.

By Issac John

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Published: Thu 28 Jul 2011, 1:34 AM

Last updated: Thu 2 Apr 2015, 6:11 AM

DP World, world’s third largest container terminal operator, reported that cargo volumes at its ports worldwide rose 11 per cent to 26.2 million standard 20-foot shipping containers in the first half as trade surged at home and in other markets. That compares with the 23.7 million it lifted in the first half of 2010.

The container port operator, which was recently listed on the London Stock Exchange, said the better show was driven by strong growth in the Asia Pacific, the UAE, Africa and Americas regions, as well as new volumes from recently opened capacity in Peru and China.

Emaar Properties, the builder of the world’s tallest tower, posted a net operating profit of Dh843 million in the first-half.

Despite a drop in delivery of new units in the second quarter, the better performance was due to “superior performance of the hospitality and malls businesses and higher margins,” the Dubai-based developer said. Emaar’s revenue for the second quarter rose to Dh2.032 billion from Dh1.983 billion in first quarter.


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