Why it's interestingDP World announced in February that it had bought back P&O Ferries for £322m, 13 years after selling the British-based company. The P&O deal is the latest in its global investments in ports and logistics. Last year saw DP World buy global logistics companies Continental Warehousing Corporation in India, Cosmos Agencia Marítima in Peru, and the Unifeeder Group in Denmark.
What DP World saidDP World chief executive Sultan Ahmed Bin Sulayem said: “This robust performance has been delivered in an uncertain trade environment, once again highlighting the resilience of our portfolio.” “We have made good progress in delivering on our strategy of strengthening our portfolio to become a global solution provider and trade enabler”, he said. “These acquisitions offer strong growth opportunities and enhance DP World’s presence in the global supply chain”.
He added: “Current year has started with trading in line with expectations and whilst the near-term outlook remains uncertain with the trade war and geopolitical headwinds, we expect our portfolio to remain resilient and see increased contributions from our recent acquisitions and investments.”