Damco shows profit in second quarter

Freight forwarder Damco, a division of the Maersk Group, had a net operating profit of US$7 million in the second quarter of 2015, the first quarterly profit the company has seen since 2013. Total revenue, year-to-date, was $655 million, a 17 percent decrease from the same period in 2014. The net loss for the company after taxes for the first half of 2015 was -$2 million compared to a loss of -$42 million y-o-y.

The group overall was impacted in the second quarter by lower average rates and a lower oil price, with an underlying profit of US $1.1 billion. The group said its strategy remains to become a premium conglomerate in all its business units.

 

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