A.P. MOLLER-MAERSK A/S (MAERSK-B.KO), the world’s biggest container-shipping company, Wednesday said it returned to profit in 2010 due to streamlined costs and a rebound in the container-shipping industry, but earnings are expected to shrink this year as the company is ramping up investments.
“Capital expenditure is expected to be significantly higher (this year) than in 2010,” the company said in a statement.
The Copenhagen-based company swung to a net profit of 26.46 billion Danish kroner ($4.87 billion) in 2010 after a DKK5.49 billion loss in the prior year, when the sharp downturn in global trade ate into earnings. Analysts had expected the company to report DKK26.8 billion in net profit last year.
At 0907 GMT, shares were up 2.9% at DKK53,300.
By Anna Molin, Dow Jones Newswires
Download: Annual Report 2010 for A. P. Møller – Mærsk A/S.
Updated: February 27, 2014 (Originally published February 23, 2011)
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