Greenlandic Fishing Company With a Profit of Millions

The Greenlandic fishing company Royal Greenland made a profit of 96 million Danish kroner in the first six months of 2022. This is reported by Sermitsiaq.

In a press release, the company reports that their usual species, with the exception of snow crab, are now approaching the same levels as before the corona pandemic.

"This is positive and ensures us a good result despite the fact that the sale of crab has significantly decreased," says Mikael Thinghuus, who is the CEO of Royal Greenland.

Although the semiannual report is promising, the company reports that the result for the whole year is not expected to rise to 2021 levels.

In the first half of this year, Royal Greenland withdrew from the Russian market after Russia invaded Ukraine. It appears from the semiannual report that the company has found other markets to replace the sale of prawns on the Russian market and the decline in sales is offset by the positive development the company has had in Scandinavia and China.