Aug 25 2011
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DP World Limited - Announcement of Interim Results for the Six Months ended 30 June 2011
Chief Executive, Mohammed Sharaf commented;
" DP World has had an excellent start to the year with gross volume growth 11% ahead of the prior period, improved revenue generation, a continued focus on cost management and improved terminal efficiencies resulting in EBITDA of $645 million and improved EBITDA margin ahead of expectations at 42.9%.
"We have continued to expand our global capacity, either through continued investment in new or existing terminals or through incremental investment focused on delivering greater efficiencies for our customers.
"Historically the second half of the year has been stronger than the first half. However, as we said in our update in July, there is uncertainty around the outlook for the global economy making it more challenging to forecast how global trade will develop in the second half of the year.
"The impact of this uncertainty has not, as yet, been reflected in the markets in which we operate and, with our focus on the more resilient emerging markets, we still expect to deliver full year results in line with expectations."
Sarah Lockie / Natasha Bukhari
DP World Limited
Telephone: +971 4 8080 1000
Jon Coles/Chris Blundell, Brunswick Group
Telephone: +44 20 7404 5959
Analyst/Investor Conference Call
There will be conference calls for debt and equity analysts and investors;
1) At 1200 noon Dubai time (9.00am London) on Thursday 25 August 2011 with CEO Mohammed Sharaf and CFO Yuvraj Narayan
2) A playback of the earlier call will be available the following day. For the dial in details and playback details please contact firstname.lastname@example.org .
The presentation accompanying these conference calls will be available on DP World 's website within the investor centre. www.dpworld.com from 0900 UAE time (0600 London).
  Leverage is calculated using net debt to annualized adjusted EBITDA
© Press Release 2011
© Copyright Zawya. All Rights Reserved.
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