Danish company A.P. Møller-Maersk has reported that it recorded an overall profit of US$2.5bn (€1.9bn) for the first six months (H1) of 2010, bouncing back from the disappointing US$540m (€419m) loss recorded in the same period last year.
Revenue for the period increased by 20 per cent, the group noted, up to US$27.3bn (€21.2bn) from US$22.8bn (€17.7bn) last year, primarily as a result of heigher freight rates (up 31 per cent) and volumes (up 11 per cent) for the group's container shipping activities as well as higher oil prices.
'The first half of 2010 has been very satisfactory for the group, and we expect a full-year profit in excess of US$4bn,' said group CEO Nils Andersen. 'The container market has improved beyond our expectations, and our own efforts to improve competitiveness are paying off.
'However, we still view the development of the global economy as uncertain, and this may affect us from the last quarter of 2010,' he warned.
