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Maersk profit tops a billion
Danish shipping giant AP Moller-Maersk has lifted its first-quarter net profit to $1.02bn as Maersk Line improved its operations.
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Found an interesting story?
Maersk profit tops a billion
Danish shipping giant AP Moller-Maersk has lifted its first-quarter net profit to $1.02bn as Maersk Line improved its operations.
The profit compares to $790m achieved in the same period of 2013.
Revenue was up to $11.73bn from $11.63bn.
The group called the result "satisfactory" and said all its units except Maersk Drilling contributed to the improved profit.
Maersk Line was boosted by "high utilisation and continued cost reductions," according to group CEO Nils Andersen.
Average container freight rates were 5.1% lower, but profit increased to $454m from $204m in 2013.
Volumes grew 7.3% to 2.2m feu and operating costs were cut by 9%.
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