A.P Møller-Maersk has once again announced in a statement that it has revised upwards its year-end forecast for 2010 following an improved performance, particularly in the container business.
The Danish group now expects the yearly result to exceed profit levels hit in 2008, which came to US$3.5bn (€2.8bn), provided that freight rates, oil prices and the US dollar exchange rate remain stable at current levels.
According to the company, this includes an accounting gain from the previously announced sale of shares in the Yantian terminal in China, which has now been closed.
Meanwhile, Maersk noted that the impending sale of Netto Foodstores UK – from its Dansk Supermarked chain to Asda – was still subject to approval by the UK competition authorities, meaning that the potential £778m (€914m) generated by the deal had not been included in the group's end-of-year estimate.
'The outlook for 2010 is still subject to considerable uncertainty, not least due to the development in the global economy,' the group said in the statement. 'Specific uncertainties relate to the container freight rates, transported volumes, US dollar exchange rate and oil prices.'
In May's interim management statement, Maersk upgraded its forecast from a 'modest profit' at the end of the year to a profit.
