Dubai port firm profits rise 22 percent in 2010

[March 23, 2011]  DUBAI, United Arab Emirates (AP) -- 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.

[Associated Press]

Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.