EE: Aggregate profits of Estonian companies up by 66% y/y in Q2.

By bne IntelliNews September 6, 2011
Aggregate profits of Estonian companies amounted to EUR 748mn in Q2, 66% y/y increase. In q/q terms the profit rose by 12% q/q, Statistics Estonia indicates. Profits increased mainly due to increases in profit growth recorded in construction and manufacturing. Construction profit growth was mainly due to the low comparative base in Q2/10, while manufacturing profits were driven by growth in exports. Revenues of Estonian enterprises amounted to EUR 10.5bn in Q2, which indicates 20% y/y increase. Enterprises total costs grew by 16% y/y in Q2, while personnel costs grew by 10% y/y. In Q2 Estonian companies invested EUR 578mn, 71% y/y increase.
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