Royal Greenland has benefited from rising prices for coldwater shrimp, halibut and other seafood caught by its fleet, but is not about to sit back and rely on further price appreciation for growth, its CEO told IntraFish.

The company, owned by the Greenlandic government, came back from several years in the red with a net profit of DKK 79 million (€10.6 million/$13.9 million) in the 12 months ending on Sept. 30, 2011.

However, the company is not depending on higher prices in its plan to double its operating profit over the next two to three years and cut interest bearing debt to DKK 1 billion (€134.5