DP World still on course for London Stock Exchange listing after leap

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The shipping boom helped its profit rise 45% in 2010. "We are on track for the London listing,"

DP's chief executive Mohammed Sharaf said. "We have submitted the 2010 results to the exchange. It depends on the process in London. We are hoping to do it as soon as possible."

The Dubai-owned firm saw its 2010 pre-tax profit hit $451 million (£276 million), a jump from the previous year's $370 million, as the container shipping industry recovered.

Sharaf claimed the political revolutions in the Middle East would trigger higher revenues.

"Governments are going to be more open and are going to be spending more on infrastructure development to improve the livelihood of the people. This is what people are asking for," he said.