Maersk upgrades after strong first half

Two large sales helped proceedings

August 19th, 2014 9:25 am| by admin
facebooktwittergoogle_pluspinterestmail

Driven by strong results from Maersk Line, APM Terminals and Maersk Oil, Danish oil and shipping giant Maersk has increased its underlying profit by 42 percent to 13.33 billion kroner during the first half of 2014.

Nils S Andersen, the head of Maersk Group, was very satisfied with the results and revealed that the board will buy back shares worth 5.55 billion kroner within the coming 12 months.

“As a result of the good progress delivering on our group priorities and the solid financial performance across the group, which has been achieved in challenging markets, we upgrade the outlook for the group result to be around 25 billion kroner for 2014,” Andersen said in a press release.

READ MORE: Nobody's more disappointed in Brazil then Maersk (besides their national football team)

Not much samba
After a strong first quarter, Maersk enjoyed a turnover of over 66 billion kroner during the second quarter of the year and exceeded expectations by nearly 13 billion kroner.

Two large sales dominated the company’s interim results as it gained almost 16 billion kroner from its sale of Dansk Supermarked and Salling, while a 9.5 billion-kroner devaluation of its oil activity in Brazil affected results negatively.

You better make that second beer to go
Under the Raydar: Taking it easy – in 1986 and 2016
Challenger blew up 30 years ago last month … a moment most Americans reme...
(photo: CCO)
School News in Brief: Case competition rise
More companies and educational institutions are using case competitions t...
February 14 will offer time for quiet reflection, but more importantly: love!
Quietly remembered in a city where love will conquer all
The morning of 14 February 2015 was like any other Valentine’s Day in Cop...
The Danish-German border (photo: Arne List)
This Week’s Editorial: Refugees at work
The Danish politicians have digested the L87 austerity package and found a ...
The Elephant Beer brand is easily recognisable (photo: Kungfuman)
Elephant beer going down well in India
Carlsberg's old sudsy stalwart, Elephant Beer, has become a trumpeting succ...
Transporting drinking water from other places could have great environmental and economic consequences (photo: iStock)
Groundwater in Danish capital at risk of contamination
Groundwater in Copenhagen and Frederiksberg may be at risk of contamination...