Global shipping and logistics firm AP Moller-Maersk on Wednesday said its profit for the third quarter ended September 2018 was almost flat at USD 251 million.
"The underlying profit in Q3 amounted to USD 251 million compared to USD 254 million in the same period last year," the company said in a statement.
It said during the third quarter it progressed in its strategic business transformation, reporting growth in both ocean and non-ocean segments with a total revenue increase of 31 per cent to USD 10.1 billion.
"Well into our transformation, we are progressing with the integration of our business to better serve customers and unlock the full growth potential within logistics and services. As a result, I am pleased to see revenue growth in Q3 across the business, including supply chain services.
"Our profitability and cash flow is improving, positively impacted by the emergency bunker surcharge announced due to the significant increase in bunker price, synergies from Hamburg Sud and strong collaboration between Ocean and our terminal activities," said Sen Skou, CEO of AP Moller-Maersk.
The company said compared to Q3 2017, revenue in logistics and services segment increased 7.5 per cent with supply chain management growing 16 per cent.
Disclaimer: No Business Standard Journalist was involved in creation of this content
