EE: Estonian business net profit up by 17% y/y in Q1.

By bne IntelliNews June 7, 2012
Estonian enterprises net profit stood at EUR 627mn in Q1, up by 17% y/y, Statistics Estonia indicates. Revenues in Q1 amounted to EUR 10.6bn, up by 12% y/y. Total costs of enterprises grew by 12% y/y in Q1, while personnel expenses increased by 13% y/y. Number of people employed increased by 5% y/y, and number of hours worked increased by 6% y/y in Q1. Construction, retail, and real estate sectors contributed the most to the growth of the total profit. In Q1 businesses invested total of EUR 506mn, up by 1% y/y. Energy, manufacturing, and trade accounted for nearly half of the total.
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