Warren Buffett’s
Operating profits jumped 21 per cent to £6.69bn in the second quarter of this year compared with the same period in 2020.
Read more:
Berkshire’s railroad, utilities and logistics companies are benefitting from an uptick in shipping and transport activity triggered by nations lifting Covid restrictions as vaccine rollouts gather pace.
Earnings in the railroads, utilities and energy division climbed more than 27 per cent from a year ago to reach
The
Buffett’s company moved to temper expectations that the strong set of earnings signalled the firm had fully recovered, suggesting that future results may still be impacted by the effects of the pandemic.
“The Covid-19 pandemic adversely affected nearly all of our operations during 2020 and in particular during the second quarter, although the effects varied significantly,” Berkshire said in the earnings report Saturday.
“The extent of the effects over longer terms cannot be reasonably estimated at this time.”
Read more:
The post
© City AM, source