London Daily

Focus on the big picture.
Wednesday, Mar 25, 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
UK Government Rejects Cover-Up Claims After Theft of Former PM Aide’s Phone
Cyprus Opens Strategic Talks with UK Over Sovereign Base Areas
UK Faces Risk of Sharp Inflation Surge Despite Stable Pre-Crisis Figures
UK Police Arrest Two Over Suspected Antisemitic Arson as Iran Link Investigated
UK Inflation Holds at Three Percent Ahead of Oil Price Shock from Iran Conflict
UK Fuel Prices Face Upward Pressure as Global Oil Trends Raise Cost Outlook
Girlguiding UK Sets September Deadline for Membership Policy Change Affecting Trans Participants
Germany and UK Accelerate Wind Power Expansion to Strengthen Energy Security
UK Moves to Ban Cryptocurrency Donations to Political Parties Over Foreign Influence Concerns
UK and Turkey Finalise Major Air Defence Agreement Worth Billions
Apple Introduces Mandatory Age Verification for iPhone Users in the UK
Diverging Views Emerge Over Meghan Markle’s Planned Australia Appearance
Trump Signals Frustration with UK Leadership Amid Diverging Approaches to Iran Conflict
UK Government Takes Control of Hunterston B as Landmark Nuclear Decommissioning Begins
UK Public Inflation Expectations Jump Sharply in March, Raising Pressure on Bank of England
UK Ministers Warn Expanded North Sea Drilling Would Deepen Exposure to Global Energy Volatility
Delayed UK Defence Investment Plan Leaves Suppliers Under Severe Financial Strain
Can Iran Strike the UK? Assessing the Real Military Threat as Conflict Escalates
Sanctioned Iranian Banker Linked to Luxury Marbella Villa Through UK Corporate Structure
Casey Bloys Navigates HBO Max UK Launch, Paramount Integration and Industry Buzz Over Netflix Meeting
Iran Conflict Sparks Sharp Turbulence in UK Mortgage Market, Reaching Pandemic-Era Disruption Levels
Major Donor Urges University of Kentucky to Reconsider Mitch Barnhart’s Post-Retirement Role
United Kingdom Moves to Lead International Effort to Reopen Strait of Hormuz
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
UK Police Investigate Targeted Attack on Jewish Ambulance Vehicles
Senior UK Advocate Criticises Barnhart Retirement Appointment, Calls for Reconsideration
UK Finds No Evidence of Direct Iranian Threat to Britain, Says Prime Minister Starmer
Assessing Iran’s Strike Capability and the UK’s Readiness Amid Rising Tensions
NATO Unable to Confirm Iran’s Role in Strike on UK-US Base as Tehran Denies Involvement
University of Kentucky’s Youling Xiong Receives SEC Faculty Achievement Award for 2026
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
Trump Highlights Satirical Portrayal of UK Leadership Amid Talks with Prime Minister Starmer on Iran Conflict
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
UK Fuel Prices Surge Toward Crisis Levels as Experts Warn of Further Sharp Increases
Duchess of Sussex Secures ‘As Ever’ Trademark Rights in Australia Ahead of High-Profile Visit
UK Reaffirms Security as Officials Reject Claims of Immediate Iranian Missile Threat
Rising Middle East Tensions Spark ‘Trumpflation’ Debate Over Impact on UK Households
UK Minister Says No Evidence Iran Can Strike Europe Despite Heightened Warnings
British-Iranians Voice Safety Concerns to Authorities as Regional Conflict Intensifies
Confirmed Meningitis Cases Linked to Kent Outbreak Revised Down to Twenty
UK Government Sees No Evidence Iran Can Strike London Amid Rising Regional Tensions
Debate Grows Over Recognition of Indigenous Cultural Icons in the United Kingdom
Iran Missile Launch Toward Diego Garcia Raises Questions After Failed Strike on US–UK Base
Donald Trump Amplifies Viral Satirical Clip Highlighting UK–US Political Dynamics
UK Satirical Show Draws Attention with Sketch Referencing Trump and Prince Andrew
Meghan Markle’s Possible UK Return Sparks Renewed Attention on Sussex Role
Starmer Convenes Urgent Talks on Cost-of-Living Pressures Linked to Iran Conflict
Starmer Convenes Urgent Talks on Cost-of-Living Pressures Linked to Iran Conflict
UK Investors Eye Bargain Shares Ahead of ISA Deadline Amid Market Volatility
UK Investors Eye Bargain Shares Ahead of ISA Deadline Amid Market Volatility
×