COPENHAGEN: AP Moller-Maersk’s progress in cutting costs reassured investors yesterday, lifting its shares despite the Danish shipping and oil giant reporting a sharp fall in net profit and sticking to a downbeat forecast for 2016.
Maersk fired its chief executive in June and replaced him with Soren Skou, head of Maersk Line, indicating it could split it into separate companies and sell off part of the group, including its oil division, as it struggles to cope with a shipping recession and tough oil markets.
Already a subscriber? Log in.
Subscribe or renew your subscriptions to win prizes worth up to RM68,000!
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
