Air Greenland Group reports 'satisfactory' profits in 2013

Air Greenland Group revenue up 1% - financial highlights for 2013:

• Revenue: DKK1182 million (EUR158.4 million), +1.3% year-on-year;
• Profit before tax: DKK63.2 million (EUR8.5 million), -40.8%;
• Profit after tax: DKK41.2 million (EUR5.5 million), -42.3%;
• Air Greenland: DKK36.7 million (EUR4.9 million), -45.0%. [more - original PR]

*Based on the average conversion rate at EUR1 = DKK7.4579

Air Greenland Group: "Air Greenland has performed satisfactory despite the fact that neither the passenger nor charter market is growing as expected. This is partly achieved by management and staff constantly focusing on reducing costs. A year ago, expectations were a market in growth, but this has not materialised due to the general economic recession in Greenlandic society resulting in less oil and mineral exploration," Jens Wittrup-Willumsen, Chairman. Source: Company statement, 18-Mar-2014.