AP Møller-Maersk on the way out of the doldrums

There is finally light at the end of the tunnel for AP Møller-Maersk

Stephen Gadd

May 11, 2017

First-quarter figures released by Maersk reveal that two years of continuously declining quarterly results have finally been halted.

For each of the previous nine quarters, the company had made a profit lower than the corresponding three months in the year before, but in the first quarter of 2017 things have changed, with a profit of over 9 billion dollars.

“While we can’t be satisfied with the overall profitability of the first quarter, the result is as expected, and we maintain our expectations for the year,” the chief executive Søren Skou wrote in the accounts.

“In accordance with our ambitions to stimulate growth once again in our business, for the first time since the third quarter of 2014 our profits have increased, seen over the year.”

The net group profit for the quarter was 253 million dollars (1.73 billion kroner), a jump from 224 million dollars (1.5 billion kroner) the year before.

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AP Møller-Maersk on the way out of the doldrums

New US Arctic security strategy co-opts Denmark as Russia deterrent

Anti-whaling activist and Greenpeace co-founder Paul Watson arrested in Greenland

Migratory birds bring dangerous ticks to Denmark

Planes grounded in CPH as worldwide IT outage hits airlines, media and banks

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Foreign labour contributes DKK 76 billion to Danish economy in three months

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