AS Tallink Grupp, the largest Baltic ferry company, reported a widening loss in the three months to May 31 as cargo revenue fell, the Swedish krona weakened against the Estonian kroon and customers spent less onboard, Bloomberg writes.
Net loss increased to 269.8 million krooni, compared with 34.2 million krooni a year earlier, the company said today in a statement to the Tallinn Stock Exchange. Sales fell 6 percent to 2.75 billion krooni.
Tallink, which carries passengers and cargo between Estonia, Finland and Sweden, said it now expects a full-year loss compared with the previous forecast of a profit.
“Although the last quarter is high season in the passenger operations and will be profitable, it will probably not be sufficient to cover the loss accumulated during the nine months of the current financial year,” the company said.