Maersk Q1 net profits up 52 percent

摘要

A.P. Moller-Maersk posted a 52 percent increase in first-quarter net profit due to gains from its container line, which benefitted in part from cost cutting and increased demand on Asia-Europe routes. In the first quarter of 2014, the Danish shipping and oil conglomerate reported a net profit of $ 1.15 billion, compared with $790 million a year earlier, a welcome bellwether for the shipping sector. The company upped its full-year outlook for 2014 to $4 billion from an earlier forecast of $3.6 billion. Maersk Line, which provides approximately half the company's revenue, will likely deliver a full-year result above 2013 s profit of $1.5 billion, the parent company said in a statement.