Danish seafood firm Royal Greenland’s pre-tax profits have been hit by negative currency translation the firm reported in its latest interim report.
The firm posted a pre-tax profit of DKK59m (US$10.8m) for teh six months to 31 March, which was DKK25m less than the profits reported last year. Adverse developments in exchange rates, “particularly in relation to the Japanese Yen” were said to be the cause.
Go deeper with GlobalData
Total revenue also declined 11% following the sale of the the factory in Wilhelmshaven. This, however, reduced the firm’s interest bearing debt to a “record low” of DKK958m.
“Royal Greenland is now much financially and commercially stronger, healthier and more focused than at any other time in the company’s recent history,” said Group CEO Mikael Thinghuus.
The firm has maintained its full year outlook.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
