Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 22.2006

Wednesday, 31st of May, 2006

Moody’s increased Hansapank’s rating
Moody’s increased Hansapank’s rating of obligations from A1 to A3 and changed prospect of rating A1 (long-term deposits) to stably positive.

Kuusakoski increased turnover by one fifth
Estonian biggest metal treater AS Kuusakoski increased turnover of 2005 to EEK 1.2 billion; a year earlier company’s turnover was EEK 1 billion. Company earned EEK 73.5 million income before income tax in 2005; in 2004 profit was EEK 123.3 million. More than 90% of Kuusakoski’s profit comes from export.

Mainor doubled quarter profit
AS Mainor’s consolidated turnover of 1Q 2006 reached EEK 64.7 million (EEK 57.9 million last year). Mainor earned EEK 9.4 million income before income tax in first three months compared to EEK 42.3 million profit in 2005. Mainor’s business is real estate development, schooling and metal industry.

Printall’s turnover grew by EEK 17 million
AS Printall’s 1Q turnover was EEK 78.9 million (EEK 61.7 million in 2005). Publishing house earned EEK 10.4 million income before income tax compared to EEK 2.7 million in 1Q last year.

Ajakirjade Kirjastus increased turnover and profit
Turnover of AS Ajakirjade Kirjastus reached EEK 172.9 million in 2005 (EEK 160 million a year before). Company earned EEK 24.2 million income before income tax last year.

Eesti Päevaleht’s profit more than EEK 2 million
1Q 2006 turnover of AS Eesti Päevaleht reaches EEK 35.6 million; company earned EEK 2.4 million income before income tax in first three months.

Friday, 2nd of June, 2006

Estonia’s growth up to 2%
Analysts predict that speed of Estonia’s economic growth will increase averagely 10%; hereafter growth will slow down. Last year Estonia’s economic growth accelerated to 9.8%; record number 12.4% dates back to fourth quarter of 1999.

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