Observer Eesti Oü

Estonia Business News: Archive 2003-

WEEK 34.2008

Monday, 18th of August

Insurance companies got fair-sized profit
Big Estonian insurance companies ERGO and IF raised both profit and turnover tremendously in first six months, If named its key factor to be the economy of expenses and ERGO named it to be cutting down of the price for traffic insurances. If Eesti Kindlustus raised its profit by 40%, reaching 146 million kroons. EGO-s turnover had risen by 14% and profit more than twice.

Turnover of Konesko has grown
The net turnover of AS Konesko for the first half-year was 462,7 million kroons and profit from economic affairs was 29,1 million kroons. The net turnover for the last year first 6 months was 395,4 million kroons and profit from economic affairs 27,2 million kroons.

Farm Plant added 100 millions to the turnover
Converts net turnover of Farm Plant Estonia AS for first 6 moths was reached 380,6 million kroons and profit from economic affairs was 19,2 million kroons. The turnover last year at the same time was 284,2 millions and profit 1,5 million kroons.

Tuesday, 19th of August

Weak exchange day on local stock market
Monday was very calm on Tallinn Stock market. Turnover was small - only 8,1 million kroons. Share with the biggest turnover was Eesti Telekom that rose in orice 0,8%, reaching 6, 70 euros. Olympic EG and Tallink shares also overcame turnover threshold of million kroons.

Kaubamaja profit
The flagship of Estonian commerce, Tallinna Kaubamaja, announced on the afternoon of 18th of August about the decrease of the profit in II quarters by 67% compared to the last year, adding that the decrease was smaller than expected. Analysts recommend to the small shareholders to think whether to live though the hard times by the side of the company or rather sell the shares and buy them back cheaper later on.

Äripäev earned 15 million kroons
Turnover of the first six months for Äripäaev was 121, 1 million kroons and profit from economical affairs was 15,1 millions. Last year at the same time, the tunover was 118,3 millions and profit 30,8 million kroons.
Äripäev, 19.082008

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