Dubai-based port firm DP World reports $1.29B profit

The port operator on Thursday reported profits of around $1.29 billion in 2018, up from around $1.17 billion the year before.
Thursday 14/03/2019
A terminal tractor passes in front of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. (Reuters)
A terminal tractor passes in front of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai, United Arab Emirates, December 27, 2018. (Reuters)

Global port operator DP World says its profit rose 10% in 2018 despite worldwide tensions over trade amid a trade war between China and the US and fears about Britain leaving the European Union.

The port operator on Thursday reported profits of around $1.29 billion, up from around $1.17 billion the year before.

Its revenue for the year was $5.6 billion, up from $4.7 billion the year prior. That's a revenue increase of 19.8% for the port operator.

DP World has expanded aggressively into new markets, including into East Africa, where the Emirati government as well has begun building new military bases.

(AP)