Dubai-based port operator DP World said on Thursday business had accelerated in the second half of 2008, despite a global economic downturn, after profit in the first half more than doubled.

Still, the shipping industry has reported early indications of weakening growth in some markets, the world's fourth-largest container port operator said.

'Thus far into the second half, our business has continued to perform ahead of the market and report growth over the comparable period last year,' the company said on its website.

DP World said first-half profit from continuing operations after tax rose to $287 million, up 122 percent from the year earlier. The group's emerging market business has mitigated a global economic downturn.

'We expect this trend of outperforming the industry to continue through 2008 and anticipate delivering full year results in line with expectations,' DP World said.

DP World said during the first half of 2008 it posted:

* Profit after tax from continuing operations at $287 million compared with $129 million one year ago;

* Revenue growth of 32 percent to $1.598 billion compared with $1.209 billion;    

* EBITDA up 44 percent to $652 million compared with $454 million one year ago, with margins increasing to 40.8 percent from 37.5 percent;    

* Net cash from operating activities of $528 million;

* Earnings per share of 1.67 cent compared with 0.78 cent one year ago. Shares in the firm have fallen 34 percent so far this year. -Reuters