DP World reports 48 per cent jump in profit

DP World, the world’s fourth biggest port operator, reported a 48 per cent jump in profits to $621 million in 2008, up from $420 million in 2007. DP World operates 49 terminals in 31 countries, including Dubai's Jebel Ali port, the largest container port in the Middle East.

Its revenue grew 20 per cent to $3.23 billion last year. The company announced a dividend of 0.69 cent per share.

Chief financial officer Yuvraj Narayan told reporters: "Business in the Middle East is showing much more signs of being robust ... than Europe or Asia," he said. "We have no refinancing risks at all right up till 2012. We don't need any new cash for the next 3 years."