DP WORLD DELIVERS THROUGHPUT GROWTH OF 11% (0291L)

TIDMDPW TIDM50PC TIDM91SN

RNS Number : 0291L

DP World Limited

25 July 2011

DP WORLD DELIVERS THROUGHPUT GROWTH OF 11%

HANDLING 26.2 MILLION TEU IN THE FIRST SIX MONTHS OF THE YEAR

UAE REGION REPORTS STRONGEST QUARTER EVER

Dubai, UAE Tuesday 26 July 2011 - DP World's global portfolio of container terminals has continued to build on the excellent start to 2011 with the momentum continuing into the second quarter. Gross volumes for the first six months of the year were 26.2 million TEU or 11% ahead of the prior year.

This performance was driven by strong growth in the Asia Pacific, UAE, Africa and Americas regions, as well as new volumes from recently opened capacity in Callao, Peru and Qingdao, China. Like for like gross volume growth was 10%.

Our portfolio of consolidated terminals handled 13.5 million TEU in the first six months of the year. Had our five terminals in Australia not been deconsolidated from 12 March 2011, the consolidated terminals would have delivered 10% growth ahead of the same six month period in 2010. Like for like consolidated volume growth in the first half was 8%.

The UAE handled 6.1 million TEU in the first six months of the year, with a record 3.1 million TEU handled during April, May and June. Whilst the first six months delivered growth 11% ahead of the same period last year, as we reported in the first quarter, this continues to reflect a relatively weak comparable period in the first half of 2010.

We have continued to invest in new capacity and our development in Vallarpadam, India and Karachi, Pakistan both opened in the first quarter of the year and are making good progress.

Mohamed Sharaf, Chief Executive of DP World commented;

"DP World has delivered a very strong performance in the second quarter of the year, resulting in over 26 million containers handled for the first six months of the year, delivering a performance ahead of the industry, reflecting our positioning in the faster growing emerging markets.

"We are particularly pleased to see the UAE achieving another milestone in container handing volumes with a record 6.1 million TEU handled in six months.

"The strong container volumes seen in the first half of the year will result in a significant improvement in first half profit after tax against the same period last year.

"As we go into the second half of the year, there is some uncertainty around the global economy making it difficult to forecast how global trade will develop. Whist this uncertainty is not, as yet, reflected across our portfolio, and with our focus on the more resilient emerging markets we still expect to deliver full year results in line with expectations."

-ENDS-

Notes

1. A conference call for analysts and investors will be hosted by CEO Mohammed Sharaf and CFO Yuvraj Narayan on Tuesday 26 July at 12 noon (UAE) / 9am (London) and the dial-in and playback of the call will be available upon request to investor.relations@dpworld.com

2. DP World will report IFRS interim results for the six months to 30 June 2010 on Thursday 25 August 2011

For further information

Fiona Piper, DP World Investor Relations

UK Mobile: +44 7919 175602

Direct Line: +44 207 9014142

Dubai Mobile: +971 504220405

Fiona.piper@dpworld.com

Volumes for the first six months of 2011

 
 Gross Volumes                           2011 H1        2010 H1 
 Americas and Australia                  3.1 million    2.6 million 
                                        -------------  ------------- 
 Asia Pacific and Indian Subcontinent    11.8 million   10.5 million 
                                        -------------  ------------- 
 Europe, Africa, Middle East*            11.2 million   10.5 million 
                                        -------------  ------------- 
 Total TEU                               26.2 million   23.7 million 
                                        -------------  ------------- 
 
 
 Consolidated Volumes                    2011 H1        2010 H1 
 Americas and Australia (1)              1.7 million    2.1 million 
                                        -------------  ------------- 
 Asia Pacific and Indian Subcontinent    2.8 million    2.7 million 
                                        -------------  ------------- 
 Europe, Africa, Middle East*            9.0 million    8.4 million 
                                        -------------  ------------- 
 Total TEU                               13.5 million   13.2 million 
                                        -------------  ------------- 
 
 
 *UAE volumes incorporated in 
  the Middle East volumes        6.1 million   5.5 million

(1) Australia was de-consolidated on 11 March 2011 and therefore volumes since 12 March 2011 are no longer be included in the consolidated figures; excluding the deconsolidation growth in the Americas and Australia region would have been 30% and growth across the global portfolio would have been 10%

This information is provided by RNS

The company news service from the London Stock Exchange

END

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