After a number of years with stagnant or falling revenue, Royal Greenland turned a profit in 2010-11 thanks to a combination of greater revenue and markedly improved operational earnings.
The company achieved an after-tax profit of DKK 79 million in 2010-11, compared to a loss of DKK 43 million the previous year and a loss of nearly DKK 200 million two years ago. Royal Greenland’s revenue increased 11 percent to DKK 4.7 million 2010-11.
Meanwhile, operating profit (EBIT) totaled DKK 171 million, which the company attributes to its North Atlantic activities, particularly in shell-on prawns, boiled and peeled prawns and lumpfish roe.
The company also attributed its positive results to a greater market focus, which enabled faster and better allocation of limited raw materials to those markets that are willing to pay the best prices. The higher market prices are reflected in Royal Greenland’s first sales prices, which were on average 19 percent higher than the previous year.
