Tallink loss almost tripled in three months on weaker cargo
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Tallink Grupp, the largest Baltic ferry company, said its loss in the three months to February 29, 2009, almost tripled as cargo revenue fell, and SEK weakened against the Estonian kroon and interest costs rose.
The net loss widened to EEK 323.3 million (USD 27 million), from EEK 111.3 million a year earlier, the company said.
Sales fell by 5% to EEK 2.62 billion, reports Bloomberg/LETA.
Tallink won't meet targets for the financial year "considering the development so far and high volatility on external factors which add uncertainties on the future," the company said. It still forecasts a full-year profit.