Maersk raises guidance as Q2 profit doubles

Maersk raised its full-year earnings guidance on Thursday after reporting second-quarter net profit of $1.3 billion, more than double the $614 million it made a year earlier.

The shipping group said strong demand, especially in Asia, helped drive growth from April to June. It now expects full-year EBITDA operating profit excluding exceptional items of $10.5 billion to $12.5 billion, up from an earlier forecast of $8 billion to $10 billion.

Chief executive Vincent Clerc said the company's global team had captured opportunities in difficult markets. Maersk said the situation in the Middle East remained volatile and continued to affect logistics networks and customer supply chains, raising operating costs.

The company said higher freight rates and lower depreciation linked to changes in vessel useful lives helped boost profits. Maersk shares were up about 4.3 percent in early trading on the Copenhagen stock exchange.