DP World profits rise 1.5 percent in first half amid slumping world’s economy

Dubai-based port operator DP World says its profit rose 1.5 percent in the first half of the year as the slumping world economy slowed cargo traffic.

A company statement Wednesday says pre-tax profit rose to 310 million for the six-month period ending June 30, compared with 306 million for the same period last year.

DP World is the world’s third-largest seaport operator, with a heavy emphasis on fast-growing markets in the developing world.

It reported a 7.5 percent rise in gross container volumes for the first half of 2012, led by traffic in the Asia-Pacific region.

The company is part of Dubai’s troubled Dubai World conglomerate, but it was excluded from its parent’s massive debt restructuring.