DANISH
shipping giant AP Moller Maersk group posted a second quarter 53 per cent profit
decline to US$1.08 billion, drawn on revenues $10.52 billion, which
fell 12 per cent year on year.
Maersk Line, the world's biggest container
shipping company, reported a 7.3 per cent drop in operating profit after
tax to $507 million.
Maersk's
group net income fell to $1.07 billion in the quarter, beating the median
estimate of $729 million in a Bloomberg survey of 10 analysts.
Maersk Line,
which transports 15 per cent of the world's manufactured goods, said gains from
lower fuel costs and higher volumes were offset by a decline in freight rates
brought about by a capacity glut and a slow down in world trade.
The group
kept its full-year outlook of an underlying net profit of $4 billion and said
it had decided to launch a share buy-back programme of $1 billion.
"In a
quarter impacted by lower average container rates and a lower oil price, the
Maersk Group achieved a satisfactory result. We reiterate our strategic
direction of targeting profitable growth with top-quartile performance and a ROIC
[return on invested capital] above 10 per cent over the cycle in all
business units," said the company statement.
"The
turbulence in the oil price has had a negative influence in the oil and
offshore markets and countries dependent on oil. This has changed the outlook
for Maersk
Oil, Maersk Drilling, APM Terminals and APM Shipping Services, where
previously announced profit and growth targets will be replaced by plans
adapting to the volatile environment," said group CEO Nils Smedegaard Andersen.
APM Terminals delivered a profit of $161 million.
The result was negatively impacted by a revenue reduction of 8.6 per cent
caused by decreased volumes in key oil dependent markets as well as divestments
in 2014 and weakening of local currencies against the dollar resulting in lower
revenue in dollar terms, said the group statement.
"Maersk
Line reiterates the expectation of a higher underlying result than for 2014.
Global demand for seaborne container transportation is revised to an expected
increase by 2-4 per cent versus previously by 3-5 per cent," said the
company.
Source :
HKSG.
Tidak ada komentar:
Posting Komentar