London Daily

Focus on the big picture.
Wednesday, Jul 08, 2026

P&O Ferries owner reports record-breaking profits after mass sacking

P&O Ferries owner reports record-breaking profits after mass sacking

DP World called ‘corporate gangster’ after announcing half-year profits of £600m

The Dubai-based owner of P&O Ferries has been accused of behaving like “corporate gangsters” after celebrating record-breaking profits just months after sacking 800 of its UK-based workers without notice.

DP World, which is ultimately owned by the Dubai royal family, said in March that firing 786 P&O seafarers and replacing them with much cheaper agency workers was the only way to ensure the “future viability” of the historic ferry business.

However, on Thursday Sultan Ahmed bin Sulayem, DP World’s chair and chief executive, announced the company had increased its first-half revenues by 60% to $7.9bn (£6.6bn) and profits had risen by more than 50% to a record $721m.

“We are delighted to report a record set of first-half results with … attributable earnings [profits] rising 51.8%,” he said in the company’s earning’s statement on Thursday. “Overall, the strong first-half performance leaves us well placed to deliver improved full year results.”

DP World did not give separate details on the performance of its ferries business in its results, but the bulk of revenues and profits come from other divisions. It operates ports in 78 countries on six continents including London Gateway and Southampton, and bought P&O in 2006 for £3.3bn.

DP World had told a parliamentary inquiry that P&O “had no future” unless it sacked the workers. At a Commons hearing in March, Peter Hebblethwaite, the boss of P&O, said the company had chosen to break the law and sack the 800 workers without notice or consultation because “no union could accept our proposals”.

The staff were told in video calls on the ships that it was their “final day of employment” and ordered off the ferries.

Hebblethwaite’s testimony prompted MPs to ask whether he was a “shameless criminal”, but he insisted he would “make this decision again”.

However, Hebblethwaite told an industry conference in May: “We have not conducted ourselves on the day, or since, in anything like the way that has been suggested of me and us.”

Frances O’Grady, the general secretary of the Trades Union Congress (TUC), on Thursday accused DP World of making “eye-watering profits … off the backs of P&O illegally sacking hundreds of dedicated staff”.

“DP World have been allowed to get away scot-free with behaving like corporate gangsters,” she said. “They are an insult to common decency.

“Ministers should have stripped DP world of all their lucrative public contracts and severed all commercial ties with the company.”

The TUC has written to the Insolvency Service, which is carrying out criminal and civil investigations into the company, saying its directors should be disqualified.

The Insolvency Service investigation is being watched closely by the government, which has said it is unable to take direct action against the directors of P&O Ferries despite the company admitting to breaking the law.

Boris Johnson had initially promised to take legal action in the courts against the company, but a week later it emerged that this was not the case, and that the government would instead rely on the Insolvency Service investigation.

Proposed legislation the government said would ensure P&O and other ferry operators pay seafarers the minimum wage was outlined during the Queen’s speech earlier in May. However, port operators and the TUC both cast doubt on whether the proposed laws would have any effect in practice.

When it announced the sackings P&O said it had “made a £100m loss year on year” which had been “covered by our parent DP World”.

“This is not sustainable,” the company said. “Our survival is dependent on making swift and significant changes now. Without these changes there is no future for P&O Ferries.”

The company had asked the government for a £150m bailout after trade collapsed during the pandemic. However, the government turned down the request for help after it was reported to have paid out £270m in dividends to investors.

At the time a DP World spokesperson said the £270m of dividends related “to a delisting process, which was announced pre-Covid-19 and which DP World is legally obliged to pay”.

Newsletter

Related Articles

0:00
0:00
Close
Rare Early Copy of US Declaration of Independence Found in British Archive
Cornish Language Revival Gains Momentum Through Schools and Community Programs
UK Authorities Face Criticism Over Prisoner Early Release Safeguards
Clacton By-Election Set After Nigel Farage Resigns Seat to Trigger Contest
Government Agencies Review Long-Term Fiscal Risks from Aging Population and Low Productivity
UK Heatwaves Expose Pressure on Public Transport and Housing Infrastructure
UK Government Prepares Welfare Review Amid Debate Over Personal Independence Payment Reform
UK Government Expands Rapid Endometriosis Testing Across NHS Services
Vistry Group Issues Profit Warning as UK Housing Market Faces Continued Pressure
Virgin Media Receives Record Twenty-Eight Million Pound Fine Over Contract Cancellation Failures
Office for Budget Responsibility Warns UK Public Finances Face Long-Term Pressure
UK Watchdog Warns Regional Income Gap Has Barely Narrowed in Three Decades
IMF Raises United Kingdom Growth Forecast as Inflation and Energy Pressures Ease
UK Government Launches Regulatory Reform Bill to Speed Up Commercialization of Innovation
Prince Harry Loses Privacy Lawsuit Against Daily Mail Publisher After High Court Rejects Claims
Federal Financial Framework Shifts as Treasury Launches Universal Savings Program for Minors
Jet2 Reports Strong Summer Travel Demand as Bookings Rise Seven Percent
Prince Harry Loses High Court Privacy Case Against Daily Mail Publisher
British Universities Warn Against Potential European Union Tuition Fee Changes
Heal Fertility Clinic Investigated After Embryo Biopsy Sample Mix-Up
Resolution Foundation Warns Regional Income Divide Has Barely Improved Since 1997
British Markets Remain Cautious as Middle East Tensions Rise and Government Transition Nears
Andy Burnham Poised to Become United Kingdom Prime Minister in Expected Political Transition
Nigel Farage Resigns as Member of Parliament Ahead of By-Election Amid Funding Investigation
Trump Declares Iran Ceasefire Over After Renewed Attacks on United States Bases
French Court Allows Le Pen to Run for Presidency, but with an Electronic Tag: "I Will Appeal, and I Will Run"
$1.4 Trillion: The Lawsuit That Could Crush Meta
Europe's Growing Struggle with Extreme Heat and Air Conditioning
UK Daily Briefing: Legal Developments and Social Issues
Political Turmoil and Rising Costs
Anthropic Reengineers Agentic Architecture to Shift Autonomous Workplace Automation to the Cloud
Logic Flaw in Windows 11 Permission Architecture Silently Consumes Hundreds of Gigabytes of Local Storage
Apple Advances Late-Stage Operating Systems with Fourth Beta Deployments
Global Crisis Alert: Escalating Middle East Tensions and UK Political Upheaval
UK Parliament Pushes for Greater Domestic Control Over Critical Technologies
UK Parliament Warns Trade Fair and Exhibition Industry Is Losing Global Competitiveness
Police Launch Murder Investigation After Mother and Two Children Found Dead Near Bedford
British Chambers of Commerce Survey Shows Business Confidence Falls to Post-Pandemic Low
UK Parliament Report Warns Britain Risks Falling Behind in Artificial Intelligence Sovereignty
Office for Budget Responsibility Warns United Kingdom Faces Long-Term Fiscal Pressures
Nigel Farage Resigns as Member of Parliament Amid Financial Scrutiny and Triggers By-Election
Deep Purple Has Released Its Best Album in Decades
UK MPs Criticise Student Loan System as Potentially Mis-Sold to Millions of Borrowers
Policy Groups Propose Bank of England-Backed Solar Loan Scheme for Millions of Homes
UK Health Agency Issues Amber Heat Alerts Across Six Regions as Temperatures Rise
Royal Air Force F-35 Jets Conduct First High North Air Policing Missions From Aircraft Carrier
Major UK Companies Join Government Cybersecurity Pledge Amid Rising Digital Threats
UK Sanctions Russian Operatives Linked to Chemical Weapons Programmes and Poisoning Cases
UK Government Expands Free Breakfast Clubs and Limits School Uniform Costs
UK Water Companies Face Tougher Penalties Under New Environmental Enforcement Rules
×