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maersk line container shipping

Maersk Reported 16 Percent Increase in First Quarter Profit

May 12, 2017 12:05 am Published by

A.P. Moller-Maersk A/S shares soared as much as 5.5 percent and traded 4.4 percent higher, as the company pointed to an improvement in its transport business that is not reflected in first-quarter results.

You haven’t seen that entirely in our results yet, but we definitely see better market conditions in container liner towards the end of the quarter than what we have seen throughout the quarter, so it’s an optimistic answer from my side.- Chief Financial Officer, Maersk

Maersk reported a 16 percent increase in first quarter 2017 profit, with net income reaching $245 million. This figure missed the average estimate of $275 million in a Bloomberg survey of 10 analysts. Maersk Group revenue rose 5 percent to $8.96 billion.

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