the republic logo

Danish shipping, oil group Moller-Maersk sees 18 percent jump in first-quarter profit to $1.3B


COPENHAGEN, Denmark — Danish shipping and oil group A.P. Moller-Maersk says it saw its first-quarter underlying profit increase by 18 percent to $1.3 billion, impacted by an after-tax gain from the sale of shares in Denmark's largest bank, but revenues dropped due to low oil prices and low economic growth.

The Copenhagen-based group said Wednesday that revenue in the three-month period decreased by 10 percent or $1.2 billion, and came in at $10.5 billion.

CEO Nils S. Andersen said performance was mainly driven by its shipping activities while Maersk Oil and APM Terminals "were impacted by lower oil prices and lower volumes in oil-dependent markets."

The full-year result was expected at around $4 billion, he said.

Maersk shares dropped 0.8 percent to 13,560 kroner in morning trading in Copenhagen.

Think your friends should see this? Share it with them!

Story copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Feedback, Corrections and Other Requests: AP welcomes feedback and comments from readers. Send an email to and it will be forwarded to the appropriate editor or reporter.

We also have more stories about:
(click the phrases to see a list)


Follow The Republic:

All content copyright ©2015 The Republic, a division of Home News Enterprises unless otherwise noted.
All rights reserved. Privacy policy.