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Maersk warns on trade risks as disappointing first-quarter earnings hit share price

Reuters  |  COPENHAGEN 

By Jacob Gronholt-PedersenCOPENHAGEN (Reuters) - A.P. Moller-Maersk missed first-quarter profit expectations on Thursday and warned that political and trade tensions clouded the outlook, sending shares in the world's biggest container shipper sharply lower.Earnings before interest, tax, depreciation and amortisation (EBITDA) for the three months to March 31 rose 5 percent to $669 million but came in well below the $852 million forecast by analysts in a Reuters poll.Chief Executive Soren Skou called the result "unsatisfactory" but said he still expected EBITDA for the year at $4 billion-$5 ...

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First Published: Thu, May 17 2018. 18:26 IST