Port operator DP World sees 2020 profits drop 29% amid virus ...Egypt

DUBAI, United Arab Emirates (AP) — Dubai-based port operator DP World announced Thursday its profits slid 29 percent in 2020 from the previous year to $846 million, as the coronavirus pandemic froze supply chains and upended the world’s trade flows. The port operator, which delisted from the stock exchange and returned to full state-ownership last June, stressed that it defied analysts’ low expectations for global trade over the difficult period. The maritime firm, one of the world’s largest, has faced various challenges with the virus surging, regional tensions rising and trade wars continuing. In its annual report, DP World said its revenue in 2020 climbed 11 percent to $8.53 million, a r

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