Sunday, July 13, 2014

Moller-Maersk hit by global downturn in Q2

August 16. 2013 4:39AM
Associated Press

Story Tools
PrintPrint | E-MailEMail | SaveSave | Hear Generate QR Code QR
Send to Kindle

(AP) Denmark's shipping and oil group A.P. Moller-Maersk says a drop in freight rates and lower oil production dented its second-quarter profit.

Net profit in the period fell 13 percent to 4.9 billion kroner ($856 million) compared to a year earlier, while revenue dropped 9 percent to 81 billion kroner.

The world's largest container shipping company cautioned that 2013 is "subject to considerable uncertainty, not least due to developments in the global economy." It expects full-year net profit to be around $3.3 billion, below the 2012 result of $4 billion.

Maersk shares fell 1.4 percent in early Friday trading in Copenhagen to 44,760 kroner.

Associated Press

comments powered by Disqus Commenting Guidelines
Mortgage Minute

Search for New & Used Cars

Used New All

Search Times Leader Classifieds to find just the home you want!

Search Times Leader Classifieds to find just what you need!

Search Pet Classifieds
Dogs Cats Other Animals

Social Media/RSS
Times Leader on Twitter
Times Leader on Youtube
Times Leader on Google+
The Times Leader on Tumblr
The Times Leader on Pinterest
Times Leader RSS Feeds