Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 30.2008

Wednesday, 23rd of July, 2008

Behind Norma's results is export to Russia
Norma had 100% profit growth in 2Q, which mainly came from selling car safety devices to Russia and Ukraine, which grew 72%. Norma's finance manager Ülle Jõgi said that 100% profit growth is not even that good compared to other quarters, because in 2Q company paid shareholders dividends worth EEK 66 million. Analysis departments of Hansabank Markets and LHV state that 2Q results of Norma were unexpectedly good.

Profits and wages of estate management companies grew
Although productivities of investment funds were modest last year, profuts and wages of estate management companies grew strongly, show annual reports of companies. AS Hansa Investeerimisfondid profit in 2007 grew 100% to EEK 130 million. Sampo Baltic Asset Management's profit grew 66% in 2007 and AS Trigon Funds grew profit 2.7 times to EEK 81.6 million.

Friday, 25th of July, 2008

Eesti Post reached profit
Eesti Post earned EEK 5.9 million profit in first six months. Company has managed to cut costs by EEK 25.2 million. Consolidated profit of 2007 was EEK 30.4 million.

Eesti Energia's income grows
1Q of 2008/2009 financial year ended for Eesti Energia in June. Company announced that net profit reached EEK 187 million.
SL Õhtuleht

Baltika's stores in Russia and Ukraine brought profit
Clothing concern Baltika's profit growth in 2Q was supported by bigger sale in stores in Russia, Ukraine and Poland. Strong turn to profit growth was a pleasant surprise, said analyst of Hansabank Markets Pavel Lupandin. Company excelled expectations of analysts strongly due to loss in 1Q.

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