AP Moeller Maersk Posts Rise In Q1 Profit

AP Moeller Maersk A/S AMKBF reported a 30 percent gain in its net profit for the first quarter and confirmed its outlook for the full year. AP Moeller Maersk's quarterly net profit surged to $1.57 billion, versus a year-ago profit of $1.21 billion. Its revenue slipped to $10.55 billion from $11.74 billion. Underlying profit surged to $1.32 billion, from $1.12 billion. Maersk Line's revenue slipped 3.2 percent to $6.25 billion, while Maersk Oil revenue fell 41.6 percent to $1.43 billion. APM Terminals revenue rose 4 percent to $1.14 billion.