Thursday, August 18, 2011

Maersk profit edges up





AP Moller-Maersk saw its bottom line edge up by 3% in the first half of the year.

The company banked DKK 14.54bn ($2.733m) for January to June period, edging past the DKK 14.16bn posted in the same period a year ago.

The rise trumped market forecasts as analysts had predicted profit to drop to DKK 13.93bn, according to a poll by Reuters.

Nils Andersen, CEO of AP Moller, said: "Thanks to the good performance of our terminals and oil related businesses, the group has delivered a satisfactory result for the first half-year.

“As we anticipated at the start of the year, the shipping market has been difficult, due to growing capacity, and we expect the slow economic growth and market volatility to continue for the coming quarters.”

Maersk’s container activity made a smaller contribution this time around, with profit of $0.4bn falling from $1.2bn 12 months ago.

Maersk Oil was the largest contributor to the improved bottom line at group level. The division raked in $1.2bn, up from $0.9bn a year ago.



Published : August 18, 2011

Source: Asiasis

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