Reported about 2 months ago
Dubai-based port operator DP World has announced a nearly 60% drop in half-year profits, down to $265 million from $651 million the previous year, due in part to disruptions caused by ongoing attacks from Yemen's Houthi rebels affecting shipping through the Red Sea. CEO Sultan Ahmed bin Sulayem noted that the geopolitical instability and supply chain disruptions are challenging, although he expressed optimism about the company's financial outlook for the remainder of the year.
Source: YAHOO