Tallink had loss of EEK 128 last year
26.10.2009, 16:37
Baltic largest ferry operator had loss of EEK 128 mln while sales revenue was EEK 12.4 bln, the company announced on Tallinn Stock Exchange.
The main reasons for the loss were higher amortisation and financial costs. Sales were 0.8 pct higher than last year.
“Considering the overall weak macroeconomic situation the Group was still able to outperform its historical numbers in many areas. However, the management is not pleased with the Group's 12 months total result in the 2008/2009 financial year,” the company said.
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The company added in an announcement that it focuses on cutting costs and selling or renting out old ships.
Sales increased by 8 pct or EEK 291 in the Q4. Tallink Grupp had profit of EEK 496 mln in the Q4.