AP Moller-Maersk has outlined its results for the second quarter of the year, with the group delivering a profit for the period of US$965m (€784m), down 39 per cent from the US$1.57bn (€1.27bn) profit recorded in the same period of 2011.
Revenue dipped slightly, down 1 per cent from US$15.44bn (€12.5bn) to US$15.35bn (€12.46bn), primarily due to lower entitlement production and lower average freight rates, partly offset by higher container volumes.
'We deliver a fairly satisfactory result for the second quarter, and we are on the right track,' said group chief executive officer Nils Andersen. 'Container rates have been improved, Maersk Line is back in black figures and our other core growth businesses are executing well on strategy.
'We can still improve and will continue our strong focus on profitability to deliver a satisfactory full-year result,' he added. 'We also maintain our investments in long-term growth, not least in developing our many oil discoveries towards production.'
By segment, Maersk Line's profit for the period was US$227m (€184m), soaring from a loss of US$95m (€77m) on the prior-year period, while volumes increased by 11 per cent to 2.2m FFE.
APM Terminals' profit came in at US$160m (€130m), down fractionally from the US$162m (€132m) recorded in 2011.
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