Maersk Group's profit down 50 percent

The Maersk Group delivered an underlying profit of USD 662 million in the third quarter, a result almost 50 percent lower than in the same period last year.

Photo: Maersk Group

The Maersk Group finished the third quarter 2015 with an underlying result of USD 662 million. The result, which is almost 50 percent lower than in the same period last year, is mainly attributed to container rates hovering at historically low levels, especially in the latter parts of the quarter, and the fact that the Maersk Oil result was affected by the low oil price, according to the Group's third quarter interim report, published Friday.

"The expected underlying result of around USD 3.4bn for 2015 reflects good performance in very challenging oil and container shipping markets, where the continuous actions taken in all our business units to reduce the cost base will enable us to maintain our ability to pursue the opportunities arising in our industries," says A.P. Moeller-Maersk CEO Nils Smedegaard Andersen in a comment on the results Friday.

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