Maersk lifts full-year profit guidance range, posts Q3 profit above forecast
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[COPENHAGEN] Shipping group AP Moller-Maersk on Thursday (Nov 6) reported third-quarter operating profit above expectations and raised the lower end of its full-year profit forecast.
Maersk said underlying earnings before interest, tax, depreciation and amortization, or Ebitda, fell 44 per cent year-on-year in the third quarter to US$2.69 billion, above the US$2.58 billion expected by analysts in a poll gathered by the company.
The company said it now expects Ebitda this year to be between US$9 billion and US$9.5 billion, up from its previous guidance of US$8 billion to US$9.5 billion.
“We have delivered a strong third quarter across our business,” CEO Vincent Clerc said in a statement. “As market conditions fluctuate, we are well-positioned to help our customers adapt and maintain stability across their supply chains.” REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
From 1MDB to ‘corporate mafia’: Is Malaysia facing a new governance test?
Higher costs, lower returns: Why are Singaporeans still betting on real estate?
South-east Asian markets account for 8.8% of global capital inflows from 2021 to 2024: report
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
