Global port operator DP World says its profit rose 10 percent in 2018 despite worldwide tensions over trade amid a trade war between China and the U.S. and fears about Britain leaving the European Union.

The port operator on Thursday reported profits of around $1.29 billion, up from around $1.17 billion the year before.

Its revenue for the year was $5.6 billion, up from $4.7 billion the year prior. That’s a revenue increase of 19.8 percent for the port operator.

Sultan Ahmed bin Sulayem, the group chairman and CEO of Dubai-backed port operator DP World, listens during a news conference in Dubai, United Arab Emirates, Thursday, March 14, 2019. (AP Photo/Jon Gambrell)
Sultan Ahmed bin Sulayem, the group chairman and CEO of Dubai-backed port operator DP World, listens during a news conference in Dubai, United Arab Emirates, Thursday, March 14, 2019. (AP Photo/Jon Gambrell)

DP World has expanded aggressively into new markets, including into East Africa, where the Emirati government as well has begun building new military bases. In February, Al-Shabab militants shot and killed a Maltese man working for DP World in Somalia, saying the UAE firm “occupies” the area.

Sign up to receive our latest news!

By submitting this form, I agree to the terms.