DP World profit tumbles 34pc after wharfie strikes

DP World Australia’s annual profits have slid by a third due to its long-running dispute with wharfies and falling container volumes, but the stevedore giant expects revenue to rise this year as it increases infrastructure fees.

The company, which operates container terminals at ports in Sydney, Melbourne, Brisbane and Perth and is owned by DP World Dubai, reported a $62.9 million net profit for the 12 months to December 31, down 34 per cent on the year-earlier $95.8 million, according to accounts filed with the Australian Securities and Investments Commission.