Disgraced P&O owner DP World profits up by 35%

Disgraced P&O owner DP World profits up by 35%

16 March 2023

RMT Press Office:

Maritime union, RMT has hit out at the "obscene" profits made by DP World - the company that owns P&O Ferries.

Ahead of the one-year anniversary when P&O unlawfully sacked 786 seafarers, DP World is raking in huge profits and revenues.


The latest preliminary financial results show:


Revenues up 58.9% (£5.262bn) to £14.196bn


Record profits, up 35% to £1.524 bn ($1.839 bn)


Paid out dividends worth over £3bn


RMT is marking the mass seafarer sackings with demonstrations in Dover and Hull to support real and effective sanctions on P&O Ferries and others in the ferry industry.


TUC general secretary Paul Nowak will be in Hull to bring solidarity from the entire trade union movement. 


RMT general secretary Mick Lynch said: “On the eve of the first anniversary of the P&O Ferries scandal, it is frankly obscene that the oligarchs at DP World are raking in billions in profit and have faced no punishment for P&O’s illegal sacking of nearly 800 UK seafarers and trashing employment law. 


"Our servile Tory Government hasn’t even clawed back P&O Ferries £11m taxpayer furlough money and, incredibly, is even striking international development deals with this undemocratic regime. 


"What happened at P&O Ferries could happen to any other worker connected to DP World and RMT will be taking a message of resistance and support for British workers to DP World’s London HQ on 21st March. I urge workers from across the maritime, Freeports and logistics sector to join us on this demonstration.”






Friday 17th March – Two events to mark P&O Ferries’ St Patrick’s Day massacre of seafarer jobs:


Dover – Assemble 1100 RMT Maritime House, Snargate Street, Dover CT17 9BZ. Speakers, Mick Lynch (RMT GS), Darren Procter (RMT NS) and other speakers TBC.


Hull – Rally from 1700 King George Docks, Hull HU9 5PR. Speakers: Karl Turner MP (Hull East), Paul Novak (TUC GS), Gaz Jackson (RMT RO), Joe Gibbins (Hull Trades Council), Sara Woolley (BFWAU GS).


Tuesday 21st March – 1130 DP World Demo:DP World Head Office, 16 Palace St, LondonSW1E 5JQ. Speakers: Mick Lynch, Darren Procter and other speakers TBC.


Today, DP World announced preliminary financial results for the year to 31 Dec 2022https://www.dpworld.com/investor-relations/financials-presentation/financial-reports/financial-results




The results also contain details of a new partnership with the Foreign Office’s international development arm, British International Investment to raise $600m to ‘strengthen [DP World’s] balance sheet and drive long term value.’


DP World Chief Executive, Sultan Ahmed bin Sulayem told the Financial Times on 29 May 2022, during the World Economic Forum in Davos that P&O Ferries CEO Peter Hebblethwaite had done ‘an amazing job’ in instantly dismissing nearly 800 UK seafarers.


One month before, on 27 April 2022, then Transport Secretary Grant Shapps told MPs on the Transport Select Committee that: “It feels to me that DP World is very concerned about what P&O has done…It

does not want to see the reputation of P&O being shredded like this. I think it understands that there is a necessity to get this sorted out. I certainly expect it to do so.”


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Tagged with: P&O Ferries, DP World, Maritime, Seafarers, RMT, Mick Lynch