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Shipping company Dannebrog Rederi back in black

As predicted by Chairman Johan Wedell-Wedellsborg, 2012 became the year Dannebrog Rederi returned to black figures on the bottom line, following three straight years of losses. Most recently, the shipping company made a USD 9.4 million deficit in 2011.

Following three years with deficits, Dannebrog Rederi, based in Rungsted, Denmark, can finally present a positive result on the bottom line, according to the shipping company's annual report 2012. From a net deficit of USD 9.4 million in 2011, the shipping company made USD 6.8 million in profits last year, and the company had USD 49.3 in equities on December 31st 2012. However, net revenue declined from USD 22.4 million in 2011 to around USD 10 million in 2012.

Manegement describes the results as "very satisfactory":

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