EE: Estonian dairy companies record net profit in Q1.

By bne IntelliNews July 7, 2011
Estonian dairy companies recorded total net profit of EUR 2.8mn in Q1, up by 100% y/y, the survey of the Institute of the Economic Research indicates. Revenues of Estonian dairy companies increased by 17% y/y in Q1 and stood at EUR 88.4mn. Expenditures amounted to EUR 85.7mn, an increase of 16% y/y. The rise in expenditures is due to 23% y/y increase in the average raw milk price. In Q1 dairies purchased total of 149,900 tons of raw milk, which indicates 7% y/y increase, and accounted for 89% of total milk produced in Estonia.
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