Dubai-based port operator DP World’s half-year profits fall nearly 60%, in part over Red Sea attacks

Associated Press

DUBAI, United Arab Emirates (AP) — Dubai-based port operator DP World has reported its half-year profits fell by nearly 60%, in part over the ongoing attacks by Yemen’s Houthi rebels over the Israel-Hamas war that have affected shipping through the Red Sea. DP World reported profits of $265 million this year, down from $651 million the same time last year. DP World Group’s chairman and CEO, Sultan Ahmed bin Sulayem, acknowledged that the Red Sea disruptions affected the firm’s revenues in a statement Thursday announcing the results.