Maersk Set To Make History In Denmark With Highest Profit

A.P. Moller-Maersk A/S is all set to secure a full-year profit that will match up cumulative results for nine years and build a business history in Denmark, the country where it originated.

Maersk’s 2021 result will be a record in Danish history, per a note released on Tuesday by Mikkel Emil Jensen, Sydbank A/S analyst. It is going to be almost three times higher than Maersk’s record of 2014, and it will exceed double the result of Novo Nordisk A/S recorded in 2020.

A mix of multiple extreme factors, such as bottlenecks resulting from pandemic consumption, has been boosting earnings at the world’s largest shipping line. Maersk last week, for the third time in only five months, raised financial guidance.

Net income is expected to reach almost $16.2 billion in the current year, per an average estimate. The number is up from an average estimate of approximately $3 billion at the start of 2021.

However, for Maersk, its 2021 profits have resulted from temporary phenomena. Hence, it is not likely that this container line or any enterprise in Denmark may be able to break the record for years to come.

Reference: indiatimes.com

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Source: Maritime Shipping News