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DP World revenue soars 59% to reach AED62.89bn in 2022

DUBAI / WAM DP World Limited has announced strong financial results for the year ended on December 31 2022. On a reported basis, revenue grew 58.9% to AED62,89 billion ($17,127 million). The Earnings Before Interest, Taxes, Depreciation, and Amortisation (Ebitda) grew 31% to AED18,41 billion ($5,014 million) with adjusted Ebitda margin of 29.3%. In a statement to Emirates News Agency ...

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Cathay CEO outlines rebuild with profit in sight this year

BLOOMBERG After being hit during the pandemic harder than pretty much any airline still flying, Cathay Pacific Airways Ltd has a very good chance of posting a net profit this year and returning to full capacity in 2024, according to Chief Executive Officer Ronald Lam. Covid-related disruption had such an impact on Hong Kong air travel that on one day ...

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Inditex’s Massimo Dutti chain stumbles

BLOOMBERG Zara owner Inditex SA is struggling to reverse an earnings decline at its formal-wear chain Massimo Dutti as mid-range officewear is hit particularly hard by the cost-of-living crisis. Earnings from the brand dropped 9.6% in the past fiscal year, Inditex reported. Revenue stood at €1.6 billion ($1.7 billion), 16% below the level of 2019, making Massimo Dutti the only ...

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