DP World reports 10% increase in container volumes in first quarter of 2012

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DP World Limited said in a statement it will hold on Monday its Annual General Meeting for the year ended 31 December 2011. DP World Chairman Sultan Ahmed Bin Sulayem will make the following statement regarding trading in the first quarter of 2012.

“Across our global portfolio of marine terminals, DP World has seen a 9.5% increase in gross volumes in the first quarter of 2012 handling 13.8 million TEU (twenty-foot equivalent units). Excluding the contribution from new capacity, like for like growth was 7.4%.

“This growth was driven by an excellent performance in our Asia Pacific and Indian Subcontinent region which reported 14.6% growth in volumes as new capacity across the region supported strong growth across our Asia Pacific portfolio. Growth in Europe, Middle East and Africa region was 4.4% with a good performance in the Middle East and Africa mitigating the ongoing challenging operating environment in Europe. The Americas and Australia region reported growth of 8.7% driven by a very strong performance in the Americas region.

“Our portfolio of consolidated terminals reported container volumes of 6.6 million TEU. Had our five terminals in Australia not been deconsolidated from the 12 March 2011, underlying growth would have been 5.9% when compared to the same period last year.

“Jebel Ali, UAE has continued to deliver strong volume growth handling 3.2 million TEU in the first three months of the year, 8.5% ahead of the same period last year.

“The global macroeconomic uncertainty has continued into 2012. With our portfolio focused on the faster growing emerging markets and more stable origin and destination (O&D) markets, we remain committed to delivering improved operational and financial performance over 2011”.

The voting results for all of the AGM resolutions will be available on the London Stock Exchange, Nasdaq Dubai and www.dpworld.com after the AGM.

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