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Hapag-Lloyd sticks to 2017 outlook

Its nine-month operating profit rises more than tenfold, narrowing the gap on larger peer Maersk

Published Wed, Nov 15, 2017 · 09:50 PM
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Frankfurt

GERMAN shipping group Hapag-Lloyd kept its outlook for the current year after its nine-month operating profit rose more than tenfold, narrowing the gap on Danish sector-leader AP Moller Maersk, which cut its forecast last week.

Shares in Hapag-Lloyd, fresh from its merger with Arab rival UASC that helped it to reach the No 5 position in global shipping, rose as much as 15 per cent and led German small-cap stocks.

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