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Estonia Business News: Archive 2003-

WEEK 8.2007

Monday, 19th of February, 2007

Hansapank’s annual profit EEK 5 billion
Hansapank Group’s yearly profit in 2006 was record EUR 324 million; gross income grew 57% in a year and 15% in a quarter – to EUR 214 million. Net interest income grew 56% in a year.
Eesti Päevaleht

Wednesday, 21st of February, 2007

Great amount of money expected from Saku
Saku Brewery surprised investors yesterday with news of EEK 200 million being paid out as dividends this year. “Why should we not pay high dividends when company’s financial situation is great,” said brewery’s board president Ireneusz Smaga. Nearly 4000 Saku’s small shareholders can be happy over high dividends. Company finds that good financial results came due to good summer and focusing on quality beers. In his speech yesterday Smaga stressed the need for innovation when developing new product groups and also valuation of quality.

EEK 3 billion
Estonian insurance agencies collected more than EEK 3 billion insurance payments last year; this is by EEK 0.5 billion more than year earlier.

Selver brought record profit to Kaubamaja
Tallinna Kaubamaja revealed extremely good annual results – last year’s profit tripled, reaching EEK 273 million. Company’s turnover grew twice to EEK 4.2 billion. Board president of Tallinna Kaubamaja Raul Puusepp noted that behind record numbers lie right enlargement decisions from previous years. “In 2004, we opened nine new stores in Selver chain and those stores have started off well,” Puusepp said. In three years Selver is planning to open ten new stores in Latvia.

Friday, 23rd of February, 2007

YIT’s income grew to EEK 51 billion
Income of YIT concern grew 9% last year to EEK 51.39 billion and profit to EEK 4.05 billion. YIT’s incomes in Estonia, Latvia and Lithuania formed 6% of the whole income.

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