A.P. Møller - Mærsk Q1 Pre-tax Profit Plunge

A.P. Møller - Mærsk Q1 2012 reports plunge in pre-tax profit, sees slightly lower 2012 result

Denmark-based conglomerate A.P. Moeller-Maersk A/S reported a plunge in first-quarter pre-tax profit to 8.48 billion Danish kroner from 15.03 billion Danish kroner last year, reports RTT News. In US Dollar terms, pre-tax profit amounted to $1.50 billion, a 46% drop from the prior year's $2.75 billion.

However, profit for A.P. Moller - Maersk's share was 6.15 billion Danish kroner, higher than 6.08 billion Danish kroner a year earlier.

Quarterly revenue totaled 81.25 billion Danish kroner, up 3% from 79.11 billion Danish kroner a year before.

For 2012, the A.P. Moller - Maersk Group expects a result slightly lower than the level reported in 2011.