Kopenhagen Fur delivers positive net profit in a difficult year
Kopenhagen Fur closed the 2018/19 fiscal year with after-tax results of DKK 17.7 million, an improvement of DKK 0.5 million over the previous year. This satisfactory result was achieved despite selling 1 million fewer skins at prices 6.6% lower than the year before.
In a difficult year for the fur industry, we have ensured to scale the capacity of our company to the current activity level, hence achieving the necessary cost savings to ensure a profitable and financially robust company. As a result, Kopenhagen Fur stands alone as the only auction house able to deliver a positive result this year, ensuring our farmers and customers a financially viable auction house to handle their skins.
Kopenhagen fur sold 25.4 million skins in 2019, generating a total revenue of DKK 5.2 billion including auction sales. Mink skin sales made up for 24.5 million skins, the rest being chinchilla, fox and Swakara skins.