Maersk revises expectations upwards

An improvement in container
business has led the AP
Moller-Maersk Group to
upgrade its modest profit
expectations for the year.
The company now expects
that the profit for 2010
will exceed that of 2008
(which was US$ 3.5 billion),
provided that freight rates,
oil prices and the US$
exchange rate remain stable
at current levels.
“This includes an
accounting gain from the
previously announced sale
of shares in the Yantian
terminal in China which
has now been closed,” a
spokesman said.
Dansk Supermarked’s sale
of Netto Foodstores Limited
is still subject to approval
from the UK competition
authorities, and the possible
gain from the sale has
not been included in the
estimate.