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Dubai's DP World reports flat half-year profit

[DUBAI] DP World, one of the world's largest port operators, reported a flat half-year net profit on Thursday.

Profit attributable to owners of the company stood at US$606 million in the six months to June 30, DP World said in a bourse statement. This compares with a profit of US$608 million in the corresponding period last year.

DP World's revenue for the first half increased 9.6 per cent to US$2.29 billion.

DP World's P&O Maritime subsidiary acquired Spanish maritime services operator Reyser from Bergé y Cía SA, the company said in June.

Qatari vessels have been banned from the company's terminals in the United Arab Emirates since June as part of an on going dispute between four Arab countries, including the United Arab Emirates, and Qatar.