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Danish shipping and oil giant A.P. Moeller-Maersk is expected to post a slight rise in 2005 net profit excluding special items, due mainly to rising freight rates and higher oil prices.
The mean forecast in a Reuters survey of seven analysts on Thursday showed a net profit before special items of 24.6 billion crowns ($3.98 billion) compared to 24.4 billion in 2004.
Maersk holds 20 percent of the Nordic region's second largest bank, Danske Bank, and reports proceeds from this stake as well as foreign exchange income as special items.
Total revenue is expected to rise 23 percent year-on-year to 205 billion crowns.
A. P. Moeller-Maersk, together with its partners Shell and Chevron, holds about 85 percent of the Danish oil production in the North Sea.
In August 2005, the group acquired Dutch Royal P&O Nedlloyd and in October it purchased a majority of US Kerr-McGee Corporation's oil and gas interests in the British sector of the North Sea.
The group has forecast net profit - before effects of discounted operations and its purchases of Royal P.O Nedlloyd and of Kerr-McGee oil interests - to be in the order of 23 billion crowns.
Discontinued operations are expected to contribute a minor, but positive amount.
Maersk is due to release full year results on Wednesday March 29.

Copyright Reuters, 2006

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