FILE - In this Monday, Dec. 10, 2012, file photo, workers sort packages at a FedEx sorting facility in Kansas City, Mo. FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings. The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country. Its forecast for the current quarter, which incorporates the critical holiday season, falls short of Wall Street expectations. (AP Photo/Charlie Riedel, File)
Moller-Maersk sees Q4 earnings hit nearly $1BN
Published: 11:30:12 AM, Fri 22 February 2013 UTC
COPENHAGEN, Denmark (AP) — Denmark's shipping and oil group A.P. Moller-Maersk says its fourth-quarter earnings reached 5.5 billion kroner ($975 million) thanks to improved rates and unit costs in its container unit, which is the world's largest.
The Copenhagen-based group, owner of the Maersk Line, says revenue for the three-month period ticked up nearly 3 percent on an annual basis to 84.8 billion kroner ($15 billion).
Maersk, which is seen as a bellwether for international trade, says full-year profits for 2012 rose 6 percent to 342 billion kroner ($60 billion), while revenue soared 23 percent to 23.4 billion kroner.
CEO Nils S. Andersen described the result as "satisfactory" in a Friday statement, though he said there was uncertainty for this year due to slow growth and overcapacity in the shipping industry.
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