COVID-19 closures decimate Danish processor's earnings

Varde Laks, a Danish processor that smokes salmon and halibut predominantly for the foodservice sector in Europe, saw its profit hit hard as a direct result of the COVID-19 pandemic.

According to the company’s 2020 financial accounts, operating profit fell 78 percent from DKK 26.4 million (€3.5 million/$4.2 million) to DKK 5.8 million (€779,805/$915,375).

Varde Laks, which does not report its turnover, said it considered the results to be “less satisfactory” and blamed the drop on a lack of revenue and earnings brought about by COVID-19 induced restaurant closures both at home and abroad.