The Danish Maersk Group achieved revenues of USD 51.2 billion in 2007, compared with USD 43.7 billion in 2006. Profit before tax amounted to USD 8 billion (USD 6 billion)and the profit for the year was USD 3.4 billion (USD 2.7 billion). This profit is by and large in accordance with the most recent expectations, the company said. Maersk also stated that there was a significant financial improvement for its container activities, primarily attributable to higher average freight rates, however, “the result is still not satisfactory”. The outlook for 2008 is subject to significant uncertainty because of the unpredictability surrounding global economic development, the historically high oil prices, and the ongoing reorganization of Maersk Line. On the basis of the current level of oil prices and exchange rates, the group expects to generate a profit in the order of USD 3.6 to 4 billion in 2008.
Maersk announces 2007 annual results
By: AJOT | Mar 13 2008 at 08:00 PM | Channel(s): Liner Shipping