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Shipping group A.P. Moller-Maersk reported a first-quarter operating income that was above expectations on Thursday and maintained its profit forecast for the full year.
In a press release, CEO Vincent Clerc stated that “we delivered strong results in comparison to the same quarter of last year. This was driven by the momentum in our operations efficiency and the global economy being in good shape in the first three month.”
He said that “global supply chains are again in the spotlight due to the escalating trade tensions and the increasing uncertainty.”
Maersk’s EBITDA grew 70% on an annual basis to $2.71 Billion in the first quarter of this year. Analysts in a LSEG survey had expected $2.57 Billion.
The company expects EBITDA to be between $6 billion and $ 9 billion this year. (Reporting and editing by Terje Solsvik, Jacob GronholtPedersen)
(source: Reuters)
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