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Maersk profit sinks in tough market
Parvez Jabri
12 Aug, 2016
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Copyright AFP (Agence France-Presse), 2016
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![](https://i.brecorder.com/images/2016/08/container-maersk-600.jpg">COPENHAGEN: Danish oil and shipping conglomerate A.P. Moller-Maersk on Friday reported a plunge in profits in the second quarter in the face of tough market conditions, but beat expectations as it continued to cut costs.</P><P>Net profit in the period plummeted to $101 million (90.5 million euros) from $1.07 billion as revenue fell 16 percent to $8.86 billion.</P><P>)
