Dubai port firm profits rise 22 percent in 2010

AP News
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Posted: Mar 23, 2011 6:54 AM
Dubai port firm profits rise 22 percent in 2010

Port operator DP World says its profit jumped 22 percent last year as it benefited from a pick-up in shipping fueled by an improving global economy.

The Dubai-based cargo handler said Wednesday its 2010 profit rose to $451.1 million from $370.1 million a year earlier.

After accounting for one-time adjustments, DP World says its profit rose 35 percent to $450 million.

Revenue increased to $3.19 billion, up nearly 9 percent from a year earlier.