Haulers in Estonia: profit to fall by a tenth in 2008

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Estonian haulers forecast that the profit will decrease by a tenth in 2008 y-o-y.

2007 was one of the worst years for the haulers: profits fell by a fifth compared to the year before. But the worst is waiting ahead: the risen fuel prices and supply that exceeds demand significantly allow earning single profit kroons, aripaev.ee writes.

While evaluating the overall profitability of the market, the haulers are even more pessimistic. Aare Laanemets, management board member of OÜ ALTEF, forecasts that the profitability will be in minus. At least 20 pct smaller than on previous year, adds Peeter Murumägi, member of the management board of OÜ GRT Estonia.

Janek Raudmets, CEO of OÜ Redline, forecasts that majority of the transport companies will end the year in zero or with a slight minus. And in that case they are still doing good, he added.