Port of Tallinn's H1 income down 11%

News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News".

31 Jul 2010

The half-year consolidated net income of the Port of Tallinn shrank by 11% to 245m kroons (versus EEK 275m in H1, 2009), Baltic Course reports citing LETA/National Broadcasting.

The PT’s income drop was due to the growth by 67 million kroons in the cost of income tax on dividends. In 2009, most of the income tax on dividends was reflected on the second half of the year.
The port’s pre-tax income rose 12% year-over-year, to EEK338m.
The Port of Tallin’s six-month consolidated sales revenue (unaudited data) amounted to EEK698m, a 6-percent gain over EEK657m a year earlier.
The Port of Tallinn said the first half of this year turned a success for the company. Trade flows via the port increased by 17% to 17.9 million tons, making the PT the third largest seaport on the eastern shore of the Baltic Sea by its freight volumes, next to Primorsk and St Petersburg.
Besides, the port has seen a record high in half-year passenger traffic, at 3.57 million passengers, or a 7-percent rise from the same period in 2009.

Source: Baltic-Course