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A.P. Møller - Mærsk FY17 Loss Narrows; Sees Higher Underlying Profit In 2018

A.P. Møller - Mærsk A/S (AMKAF.PK,AMKBF.PK) reported that its loss for fiscal year 2017 narrowed to $1.21 billion or $58 per share from $1.94 billion or $93 per share in the prior year.

The underlying profit of $356 million, compared to loss of $496 million in the prior year. The result was positively impacted by an improvement in Maersk Line excluding Hamburg Süd of $905 million compared to 2016, in the low end of the latest guidance, which stated an improvement of around US$1 billion.

Revenue for the year grew to $30.95 billion from last year's $27.27 billion.

For 2018, A.P. Moller - Maersk expects an underlying profit above last year's $356 million, and earnings before interests, tax, depreciation and amortisation or EBITDA in the range of $4.0 billion-$5.0 billion, compared to $3.5 billion reported in the previous year.

A.P. Moller - Maersk believes, that within the next 3-5 years, it should be as easy to ship a container across the world as it is today for consumers to send a parcel.

by RTTNews Staff Writer

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