Maersk posts Q1 profits above expectations, lifts lower end of FY guidance range

Shipping group A.P. Moller-Maersk on Thursday reported first-quarter earnings above expectations and lifted the lower end of its full-year profit guidance range.

Maersk said it now expects underlying earnings before interest, taxation, depreciation and amortisation (EBITDA) this year between $4 billion and $6 billion, compared with its previous guidance between $1 billion and $6 billion.