Volumes down at DP World’s global terminals

According to the company, 2009 was the most challenging year the container port industry has experienced, with the first reported global decline in volumes since containerisation began, and with the industry as a whole reporting a decline of almost 12% in container volumes.

As Mohammed Sharaf DP World’s CEO explained, “Our 8% decline in volumes will lead to a decline in full year profit before tax against the same period last year; however management’s focus on cost cutting and maintaining revenues has mitigated the downside and we expect to report 2009 results in line with expectations.”

Despite the company qualification that in a challenging year it was pleased to have delivered better results than the industry due to its focus on the more resilient emerging markets, the question now must be whether the figures will frighten off some potential investors in the planned London listing?