|Estonia Business News: Archive 2003-
Wednesday, 5th of December, 2007
Doing laundry is beneficial business
Small laundry houses in Estonia have bigger profitability than big ones.
Small laundry houses earn relatively more than their big competitors because customers with less laundry to wash agree to pay more. "At the moment there are more customers than laundry houses," says manager of Richmar OÜ Allan Liib. Richmar made EEK 5 million turnover and more than EEK 1 million profit last year.
Friday, 7th of December, 2007
Kruuda thanked faithful shareholders
Manager of AS Kalev Oliver Kruuda thanked shareholders for trust and thought that if we believed Estonian media, Kalev would not have 1200 shareholders. "We are very satisfied with results of takeover offer because more than 1200 investors decided to continue as Kalev's shareholders," said Kruuda. Äripäev's analyst Tõnis Oja said that he sold Kalev's stocks. "I bought it as strong confectionery but media in such form is pure waste of money," says Oja. Kruuda says that investors who sold stocks also made a good deal. Riina Tuulmets, former shareholder of Kalev says she sold company's stocks because mostly after takeovers dividends for small shareholders are lost. Kalev's major shareholders should have kept minor shareholders just as Saku did because minor shareholder consumes Saku's beer instead of foreign beer, Tuulmets notes. She thinks that sale of Kalev's production will drop after the takeover because it is connected to patriotism, not quality.
Arco Vara grew profit
First nine months' net profit of Arco Vara concern was EEK 264.1 million, which is 4.8 times bigger than in respective period last year (EEK 54.9 million). Business profit grew 55%.
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