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

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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.

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Copyright 2018 The Associated Press. All rights reserved.

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