Tallink Grupp reports a EUR 186.6 million turn over for the first quarter in its fiscal year

The Estonian ferry owner/operator Tallink Grupp reports a EUR 186.6 million turn over for the first quarter in its fiscal year that starts on 1 September. That is EUR 3.7 million less than during Q1 the year before. Net profit was EUR 200,000, down by 97.7 per cent compared to the September-November 2006 result. The company explains the profit slump with a decrease in passenger numbers caused by problems during introduction of a new booking system. Increased bunker costs by EUR 7 million also affected the result as well as higher interest rates. Total assets rose by one per cent to EUR 1.46 billion, while total liabilities were down 3.3 per cent to EUR 778.1 million.