Tallinna Vesi reports loss for second quarter on dividend tax
27.07.2010, 12:59Estonia's largest water utility Tallinna Vesi said it had a net loss for the second quarter due to higher taxes after it more than doubled its dividend payment.
The net loss came to 2.7 million euros compared with a profit of 855,000 euros a year earlier, the company said.
Sales rose 3.5 percent to 12.5 million euros.
Taxes on dividend payments for 2009 rose to 8.5 million euros from 3.9 million euros after the company last month increased its payout to 32 million euros from 14.7 million euros a year earlier.