|WEEK 9th 2004
Monday, 23rd of February, 2004
Esma Auto grew profit by half
Net turnover of AS Esma Auto in 2003 reached EEK 240 million, having increased by EEK 99 million compared to 2002 when the companys turnover amounted EEK 141 million. Profit of Mazda vendor is over EEK 10 million. In 2002, profit reached EEK 6.9 million.
Last year, Esma Auto sold 758 cars. The company invested EEK 1.3 million.
Estiko concern received EEK 15 million of profit
Last year, AS Estiko received a net profit of EEK 15.1 million by the consolidated turnover of EEK 200.1 million. Turnover grew 13.5 percent compared to 2002.
Wednesday, 25th of February, 2004
Industry grew 7.6 percent
In January, industrial production increased 7.6 percent compared to respective month in 2003, whereby production in manufacturing industry grew 9.0 percent.
Thursday, 26th of February, 2004
Heavy loan burden to slow down consuming
For the year 2004, the ministry of finance expects a 5.3 percent of economic growth, at least 10 percent of export growth and slow down of consuming that is primarily due to heavy loan burden.
According to Hansapank analyst Maris Lauri, economic growth should accelerate during next few years, as export perspectives become favourable. Growth of investments will continue.
Ruta Eier, analyst of Ühispank expects foreign investments to continue in record pace. This would decrease unemployment.
Sales of Liviko up by 20%
Turnover of Estonian alcohol manufacturer Liviko in 2003 amounted EEK 649 milion. Turnover increased 20 percent compared to 2002.
Liviko will reveal the profit number after auditing.
Liviko is the oldest spirits manufacturer in Estonia. It is also a market leader.
Friday, 27th of February, 2004
Merko Ehitus doubles net profit to EUR 11.8 million in 2003
Estonias largest construction group Merko Ehitus has reported strongly improved annual results for 2003. The group consolidated and unaudited interim net sales figures amounted to EEK 2.7 billion (173.1 million), up from 1.66 billion a year earlier. The net profit was EEK 184.5 million (EUR 11.8 million), up from 98.9 million (EUR 6.3 million).
Net profit of Saku Brewery up
59 percent to 3.5 million euros
Saku Õlletehas (Saku Brewery Ltd) ended 2003 with a net profit of EEK 54.8 million (3.5 million euros), up 59.1 percent from 2002.
Revenues amounted to EEK 464.1 million (29.7 million euros) and were 4.8 percent higher.
Beverage sales totalled 57 million litres and were up 1 percent from 2002. Of that, the domestic market contributed 49.8 million and export markets 7.2 million.
With annual sales of 41.2 million litres and a 42.5 percent market share Saku is the leader of the Estonian beer market.
The average number of employees was 247. Chairman of Saku Brewery is Cardo Remmel.
Marhaba earned EEK 1.3 million in first three months
Travel organiser Marhaba Tours managed to reach EEK 1.3 million profit in first three months. Marhaba Tours has sold out all the direct flights to Sharm el Sheik in Egypt until the end of March.
The company predicts a turnover of EEK 35 million by the end of winter season in April.
Baltic Weekly MonitorA