DP World sees stronger growth from 2016

A Djibouti policeman stands guard during the opening ceremony of Dubai-based port operator DP World’s Doraleh container terminal in Djibouti port in this February 7, 2009 file photo. DP World, the operator of ports from China to Peru, sees stronger growth from 2016 as new developments increase volumes, Bloomberg reported. The Dubai-based company expects to raise its consolidated capacity to about 42mn twenty-foot equivalent units by the end of the year from 37.9mn TEUs at the end of 2014, according to its results presentation. It seeks to increase gross capacity to about 100mn TEUs by 2020. Full-year profit rose 12% to $675mn, beating the $657mn mean estimate of seven analysts compiled by Bloomberg. Revenue climbed 11% to $3.41bn. DP World will pay a dividend of 23.5 cents, up from 23 cents a year earlier. The company plans to add capacity this year, including 2.4mn TEUs in Rotterdam, Netherlands and 2mn TEUs in the Jebel Ali port in Dubai. Capital expenditure is seen ranging between $1.4bn to $1.7bn this year.