Maersk returns to profit as container shipping improves | KOB 4
Advertisement

Maersk returns to profit as container shipping improves

February 09, 2018 03:21 AM

COPENHAGEN, Denmark (AP) — Danish shipping and oil group A.P. Moller-Maersk says it made a fourth quarter profit of $386 million, up from a loss of $2.7 billion a year earlier, as revenue rose to $8.2 billion from $7 billion.

Advertisement

The company said Friday that the rise in earnings was driven primarily by its container shipping business, Maersk Line.

CEO Soren Skou said Friday that 2017 as a whole had been "unusual" because of a cyber-attack in June, which mainly affected Maersk Line, hurting its results.

For the full year, Maersk reported a loss of $1.2 billion, up from a 2016 loss of $496 billion.

Maersk shares dropped 3.4 percent to 10,005 kroner in Copenhagen.

Credits

Copyright 2018 The Associated Press. All rights reserved.

Advertisement



Advertisement

Relay Media Amp

Advertisement


Advertisement




7th suspect captured in deadly gas station shooting

Police: Good Samaritan saved mother, daughter

City Council considers sales tax to address public safety

Animal Welfare associate director on leave amid probe

NMAA investigating brawl at state wrestling tourney