APM Terminals, AP Moller-Maersk's port operator division, has announced that net profit for the first half of 2008 jumped to US$185m (€126.3m) from US$51m (€34.8m) during the same period of 2007.
Revenue during the six-month period increased by 27 per cent to US$1.5bn (€1.02bn), with the earnings before interest, taxation, depreciation and amortisation (EBITDA) margin growing from 18 per cent in 2007 to 21 per cent.
'In very challenging shipping and economic environments APM Terminals' progress and growth remain steady and positive,' said group CEO Kim Fejfer. 'The strength of the organisation and the Global Terminal Network is reflected not only in our financial performance, but in our continued success in gaining new customers and winning new terminal development projects around the world.'
Of these developments, APM completed the implementation of terminal projects in Xiamen (China), Tangier (Morocco) and Tema (Ghana), while also beginning work in Vado (Italy) and expanding in Salalah (Oman), Rotterdam (Netherlands) and Tanjung Pelepas (Malaysia).
Meanwhile, the group has announced the appointment of Pieter Schaffels as the new vice-president of corporate communications.
'APM Terminals is clearly a company setting the industry pace as shown through its excellent performance in running its global terminal network,' said Mr Schaffels, who will work alongside Tom Boyd and Luise Kjaergaard. 'I am excited to join the leadership team and work with them to better position the company in the minds of customers, employees, the media and other relevent stakeholders going forward.'
