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Dubai's DP World says first-half profit jumps almost 52%

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FILE PHOTO: General view of a stock yard of DP World's fully automated Terminal 2 at Jebel Ali Port in Dubai

By Hadeel Al Sayegh

DUBAI (Reuters) - Dubai's DP World said on Thursday profit jumped almost 52% in the first half of 2021, fuelled by higher consumer spending and a rebound in global trade since the coronavirus pandemic.

DP World, one of the world's biggest port operators, said profit attributable to owners of the company jumped to $475 million in the period ended June 30, from $313 million last year.

Revenues rose 21% to $4.95 billion, from $4.0 billion in the year earlier period, the company said in a statement.

“Overall, the near-term outlook remains positive, and while we are mindful that the Covid-19 pandemic and geopolitical uncertainty could once-again disrupt the global economic recovery, we remain positive on the medium to long-term fundamentals of the industry and DP Worlds ability to continue to deliver sustainable returns”, DP World's group chairman and chief executive Sultan Ahmed Bin Sulayem said.

(Reporting by Hadeel Al Sayegh; Editing by Clarence Fernandez)

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