Profits soaring at the top Danish companies – The Post

Profits soaring at the top Danish companies

Chief economist from Danske Bank believes the trend will continue despite the current financial crisis in China

The shipping and logistics company DFDS has more than doubled its operating profits this year in comparison to the first half of 2014 (photo: iStock)
August 27th, 2015 5:01 pm| by Lucie Rychla

A study of the 2015 interim financial results of Denmark’s 32 top companies reveals their collective operating profits have increased by 26 percent compared to the first half of 2014, reports Børsen.

Despite China’s financial crisis, the Grexit threat, the Russian sanctions and falling stock prices, the country’s most profitable companies – listed among the C20, Large Cap and Mid Cap groups – have seen their collective turnover rise by 11 percent.

“Many Danish companies are stronger today than they were before the financial crisis, proving that everything is going in the right direction,” Steen Bocian, the chief economist at Danske Bank, told Børsen.

Stronger dollar helps
One of the companies, the shipping and logistics giant DFDS, has more than doubled its operating profit during the first six months of 2015 in comparison to the same period last year.

Bocian put the general positive developments down to the improved situation in most European economies as well as the increasing strength of the dollar.

READ MORE: Danish companies making huge gains thanks to soaring dollar

The expert believes Danish companies will continue the positive trend for some years to come, despite the challenges currently faced by some of the international markets.