Royal Greenland, the world's largest supplier of coldwater shrimp and Greenland halibut, posted a loss before tax of DKK 113 million (€15.2 million/$16.2 million) in the first half of 2023, compared to a profit of DKK 96 million (€12.9 million/$13.7 million) for the same period last year, which it is largely attributing to the fallout from Russia's invasion of Ukraine.

The group said its earnings are under pressure from rising oil prices, the energy crisis, inflation and economic slowdown in Europe.