COPENHAGEN: Maersk Group’s Profit increased to $1.6 billion in the first quarter of 2015, up from $1.2 billion in 2014.
Despite “low oil prices and low economic growth,” A.P. Møller – Mærsk A/S announced Wednesday that profit increased 30 percent to $1.6 billion in the first quarter of 2015, up from $1.2 billion this time last year. The results largely reflect the one-time sale of the company’s shares in Danske Bank for $223 million earlier this year, according to reports.
The quarter saw revenues fall 10 percent to $10.5 billion from $11.7 billion in 2014, with the ongoing weak price of crude having impacted its businesses, said Maersk Group CEO Nils S. Andersen.