DP World, the ports operator controlled by the government of Dubai, saw container traffic surge 21 percent in the first half of 2008, as cargo volumes increased in Australia, India and the Middle East.
"These strong volumes across all regions are expected to deliver good first half financial results well ahead of the same period last year,” said DP World CEO Mohammed Sharaf.
The two Dubai ports of Jebel Ali and Port Rashid combined grew 17 percent to reach 5.8 million TEU for the first half of 2008, the company said in regulatory filing to the London Stock Exchange (LSE) on Monday.
“We expect Dubai Ports World to continue to gain market share in this growth industry,” said Merrill Lynch analyst Samantha Gleave in a note.
The bank has a ‘buy’ recommendation on the stock. DP World will announce its 2008 half year financial results on Aug. 28.
"These strong volumes across all regions are expected to deliver good first half financial results well ahead of the same period last year,” said DP World CEO Mohammed Sharaf.
The two Dubai ports of Jebel Ali and Port Rashid combined grew 17 percent to reach 5.8 million TEU for the first half of 2008, the company said in regulatory filing to the London Stock Exchange (LSE) on Monday.
“We expect Dubai Ports World to continue to gain market share in this growth industry,” said Merrill Lynch analyst Samantha Gleave in a note.
The bank has a ‘buy’ recommendation on the stock. DP World will announce its 2008 half year financial results on Aug. 28.