Maersk Reports 5.8% Decline In First-Half Net Profit

A.P. Moller-Maersk A/S

reported a 5.8% drop in its first-half net profit. Maersk's net profit for the period declined to DKK12.61 billion, from DKK13.40 billion, down from analysts' estimates of DKK13.68 billion. Excluding the minority interest, Maersk's profit climbed 3% to DKK14.54 billion. Maersk's earnings before interest and tax (EBIT) surged 13% y/y to DKK34.60 billion, from DKK30.52 billion, versus analysts' estimates of DKK29.77 billion. Maersk's sales climbed 4% y/y to DKK159.23 billion, from DKK153.53 billion.