Royal Greenland posts higher profit in year of change

Revenue fell from from DKK 5.3 billion ($1.04 billion/€710.1 million) to DKK 5.1 billion ($1 billion/€682.5 million).

Though net profit rose from the previous fiscal year, it was still around half what the group reported in its 2002, 2003 and 2004 fiscal years, reflecting what the company called "a wide range of uncertainties," including prawn allocations in Greenland, changes in management and increased competition.

Royal Greenland named Flemming Knudsen, a former executive with Air Greenland and shoe firm Ecco, to the top post in March.

Knudsen