Tallink cuts third-quarter loss to 47 million kroons
16.07.2010, 08:59Tallink Grupp, the largest Baltic ferry company, reported a narrower fiscal third-quarter loss, citing higher revenue and spending cuts. The net loss declined to 47 million kroons for the period ended May 31, from 270 million a year earlier, the company said in a stock exchange statement.
Revenue rose 15 percent to a record 3.17 billion kroons. General administration costs declined 13 percent.
The company said the improvement in Q3 was influenced by strong passenger volumes and continued recovery in the passenger revenues. In the third quarter the passenger numbers increased by 18% year on year to 2.16 million passengers - a new all time record for the third quarter.
The company's fuel cost was 125 million kroons higher than a year earlier.