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Business Briefing: Profit, and Outlook, Soar for A.P. Moller-Maersk

Posted by Unknown on Tuesday, August 19, 2014


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Business Day |Profit, and Outlook, Soar for A.P. Moller-Maersk



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Business Day | Business Briefing






A. P. Moller-Maersk, the world’s largest shipping company, says it is sending more containers around the world, a sign that global trade and possibly economic growth are picking up. On Tuesday, the company, which investors monitor as a bellwether for world trade, lifted its earnings outlook on the back of an increase in freight volumes. It said shipping volumes rose 6.6 percent in the second quarter, one of several factors that caused its net profit to more than triple, to $2.3 billion. The chief executive, Nils S. Andersen, said the profits were “achieved in challenging markets,” helped by cost cuts and a profit on the sale of a majority stake in the company’s retail business. The company, based in Copenhagen, said its revenue rose to $12 billion in the three-month period that ended June 30, from $11 billion a year earlier. As a result, it expects its profit for 2014 to be “significantly above” the 2013 result of $3.8 billion. When not counting one-time gains or charges, it expects profit to be $4.5 billion, up from expectations of $4 billion.



A version of this brief appears in print on August 20, 2014, on page B2 of the New York edition with the headline: Profit, And Outlook, Soar For A.P. Moller-Maersk .




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