Maersk second-quarter profit beats forecasts

Reuters

Updated 13 August 2015 at 3:01 am

COPENHAGEN (Reuters) - A.P. Moller-Maersk reported second-quarter profits ahead of forecasts on Thursday thanks to an improvement in its oil business and stronger than-expected result in the container shipping unit.

The Danish shipping and oil group said net profit was $1.1 billion in April-June, beating a forecast of $820 million.

The group kept its full-year outlook of an underlying net profit of around $4 billion and said it had decided to launch a share buy-back programme of $1 billion.

(Reporting by Ole Mikkelsen. Editing by Jane Merriman)

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