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A.P. Moller - Maersk improves Q2 underlying profit

A.P. Moller - Maersk
A.P. Moller - Maersk   Q2 was mainly driven by a profitable Maersk Line

In Q2, the revenue of A. P. Moller - Maersk grew by 8.4% to $9.6bn year on year, mainly due to higher freight rates in Maersk Line.


The underlying profit in Q2 improved from $134m to $389m with Maersk Line contributing with an underlying profit of $327m.

As a result of post-tax impairments of $732m related to Maersk Tankers and APM Terminals, the reported result was a loss of $264m.

The performance of A.P. Moller - Maersk in Q2 was mainly driven by a profitable Maersk Line due to continued recovery in the container market and focus on restoration of profitability.

Full-year guidance is reiterated for 2017, despite an expected negative financial impact of $200–300m in Q3 from the recent cyber-attack.

Transport & Logistics reported a consolidated revenue of $7.7bn, which was an increase of 15% compared to same quarter last year, and an underlying profit of $442m which was improved significantly, in large part driven by higher container freight rates.

Energy delivered an underlying profit of $182m in Q2, with Maersk Oil as the main contributor.

 

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