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Business

Maersk upgrades after strong first half

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August 19th, 2014


This article is more than 10 years old.

Two large sales helped proceedings

Driven by strong results from Maersk Line, APM Terminals and Maersk Oil, Danish oil and shipping giant Maersk has increased its underlying profit by 42 percent to 13.33 billion kroner during the first half of 2014.

Nils S Andersen, the head of Maersk Group, was very satisfied with the results and revealed that the board will buy back shares worth 5.55 billion kroner within the coming 12 months.

“As a result of the good progress delivering on our group priorities and the solid financial performance across the group, which has been achieved in challenging markets, we upgrade the outlook for the group result to be around 25 billion kroner for 2014,” Andersen said in a press release.

READ MORE: Nobody's more disappointed in Brazil then Maersk (besides their national football team)

Not much samba
After a strong first quarter, Maersk enjoyed a turnover of over 66 billion kroner during the second quarter of the year and exceeded expectations by nearly 13 billion kroner.

Two large sales dominated the company’s interim results as it gained almost 16 billion kroner from its sale of Dansk Supermarked and Salling, while a 9.5 billion-kroner devaluation of its oil activity in Brazil affected results negatively.


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Moreover, 21 percent of those surveyed admitted to medicating their kids with paracetamol, such as Panodil, before sending them to school.

The FOLA parents’ organisation is shocked by the findings.

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Parents, when confronted, often cite pressure at work as a reason for not being able to stay at home with their children.

Many declare that they simply cannot take another day off, as they are afraid of being fired.

Allan Randrup Thomsen, a professor of virology at KU, has heavily criticised the parents’ actions, describing the current situation as a “vicious circle”.

“It promotes the spread of viruses, and it adds momentum to a cycle where parents are pressured by high levels of sick-leave. If they then choose to send the children to daycare while they are still recovering, they keep the epidemic going in daycares, and this in turn puts a greater burden on the parents.”