AP Moller-Maersk predicts better 2012

AP News
Posted: Aug 14, 2012 3:18 AM
AP Moller-Maersk predicts better 2012

COPENHAGEN, Denmark (AP) — Danish shipper and oil group A.P. Moller-Maersk says it expects to do better this year than last despite reporting a 2 percent drop in second-quarter earnings to 20.67 billion kroner ($3.42 billion).

The world's largest container shipping company says revenues for the three-month period were up 11 percent to 88.82 billion kroner from the same period a year earlier.

CEO Nils S. Andersen says the company was "back on track" as container rates and its other core businesses have improved.

The Copenhagen-based group also says 2012 financial results would be "slightly above the result of 2011. "

Maersk shares dropped 0.4 percent in Copenhagen trading Tuesday morning to 40,600 kroner ($6,722).