Dubai: DP World see’s moderate growth in the second half of the year despite global concerns over the health of the Chinese economy, Chairman Sultan Ahmad Bin Sulayem said on Thursday.

“We always see the second half of the year is stronger … we have never seen the second half weaker,” Bin Sulayem told reporters on a conference call commenting on the company’s first half results.

The port operator reported earlier a 21.9 per cent increase in first half profit in a statement on the Nasdaq Dubai.

DP World, one of the world’s largest port operator’s, made $405 million (Dh1.49 billion) over the six months to June 30, 2015 compared to $332 million a year ago. Revenue for the first half rose 14.5 per cent to $1.9 billion.

Growth across the global portfolio and the acquisition of Economic Zones World (EZW), an industrial parks firm, supported the company’s first half performance, Bin Sulayem said.

Bin Sulayem also said the company is on track “to meet full year market expectations”, but cautioned growth in the second half of the year would be modest in comparison to the start to the year.

Concerns over the health of the Chinese economy threw global markets into disarray earlier this week with many worried the world’s second largest economy is slowing down much faster than expected.

But Bin Sulayem said the company’s operations are diversified enough to mitigate the risks in China and currency depreciations in a number of emerging markets.

“Whatever is happening in China is not going to take an immediate affect in the second half,” Bin Sulayem said.

“Our focus on fast growing markets and origin and destinations cargo continues to be the right business model to pursue,” he said.

In the first half of the year, the company spent over $3 billion on acquisitions, principally in the UAE and Canada. It spent a further $600 million adding 3 million twenty foot shipping containers (TEUs) of handling capacity, mainly in the UAE and Europe.

Across its ports, which stretch from Dubai to Brazil the company handled the equivalent of 14,378 twenty foot shipping containers, a 3.5 per cent increase on the 13,889 it handled a year ago.

Middle East, Europe and Africa operations, which include the flagship Jebel Ali Port in Dubai, generated $1.375 billion in revenue, 18.9 per cent more than a year ago. The ports in the Middle East, Europe and Africa handled 10,777 TEUs, up 5.2 per cent.

The Asia Pacific and Indian Subcontinent region, including four terminals in China, contributed $202 million in revenue, a 1.5 per cent increase. These operations saw a 1.5 per cent rise in TEUs with 2,374 handled.

In Australia and the America’s, the company generated $322 million in revenue, up 3.4 per cent, on 1,226 TEUs handled, a flat 0.4 per cent increase.