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Dubai port operator H1 profits up 26 percent

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DUBAI, United Arab Emirates (AP) — Dubai-based port operator DP World says its profit rose 26 percent in the first half of the year as new capacity and a pick-up in global trade allowed it to process more cargo.

The government-backed cargo handler said Thursday it earned $332 million in profit attributable to its owners during the first six months of 2014, up from $264 million during the same period a year earlier.

Revenue for the first half increased to $1.66 billion, up from $1.51 billion a year earlier.

DP World ranks among the largest port operators, with a heavy emphasis on fast-growing markets in the developing world. It is the operator of Dubai's Jebel Ali seaport, the largest in the Middle East.

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