DP World 2010 profit rebounds from 2009

DP World 2010 profit rebounds from 2009    Dubai-based global terminal operator DP World last week reported operating profit of $503 million in 2010, a 30 percent increase on 2009.
   The operator is part of state-owned conglomerate Dubai World that has struggled under the weight of billions of dollars of debt in recent years, but said profit rose due to robust global trade growth last year.
   Revenue grew 9 percent to $3.1 billion, while total container volume grew roughly in line with profits, 14 percent to 49 million TEUs at its 50 global facilities. Of the 28 terminals that DP World consolidates in its financial statements, volume grew 9 percent to 27.8 million TEUs.
   'Whilst the return of container volumes across the industry has been an important driver, the actions taken at our terminals to increase revenue have contributed to us delivering container revenue ahead of both 2009 and 2008,' the company said. 'In addition, non-container revenue has returned to growth with a particularly strong second half performance.'