Observer Eesti Oü

WEEK 31st 2004

Tuesday, 27th of July, 2004

Turnover of bankcard transactions to grow
According to the Bank of Estonia, 9.544 million transactions with a total turnover of EEK 5.168 billion, which is 15 percent more than in June last year, were made with bankcards.

Wednesday, 28th of July, 2004

Ühispank announced of record half-year results
The first half-year operating profit of Ühispank reached EEK 355 million compared to EEK 323 million last year. The result was an all time record for the bank. Operating profit grew 10 percent. Net interest profit grew 6 percent and reached EEK 430 million compared to EEK 406 million last year.

Friday, 30th of July, 2004

Baltika ended the half-year in profit
The consolidated net turnover of clothing manufacturer Baltika reached EEK 269.4 million and net profit EEK 1.72 million. Compared to respective period in 2003, net turnover grew 21 percent. The half-year of 2003 ended with a EEK 32 million loss.

Economic results of Valio Estonia
The turnover of Valio Eesti AS in the first half-year amounted EEK 147.7 million. Turnover grew 25.9 percent, which is EEK 30.4 million more than last year. According to Ingrid Eelmaa, board member of Valio Estonia, the growth was achieved on the account of the domestic market.

Government to expect an economic growth of 5.6 percent
In the prognosis that was published on Friday, the ministry of finance prognosticates an economic growth of 5.6 percent for this year and 3.3 percent of growth for the consumer price index. For the year 2005, the ministry expects an economic growth of 5.9 percent.
“We are proud to admit that Baltic countries are in the forefront within the European Union in terms of economic growth,” claimed Andrus Säälik from the ministry of finance.

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