Estonia, Markets and Companies, Water

AS Tallinna Vesi's CEO Ian Plenderleith said that the volumes sold to residential customers rose 0.8% in the 3rd quarter of 2010. “We believe that this is mainly due to the combination of the economic conditions getting gradually better during the last year, supported by the hot summer and the increased need for gardening water,” said Plenderleith. The volumes sold to commercial customers inside the main service area also increased compared to last year by 2.4%, this can be attributed to the recovery of the leisure sector, writes LETA.

In total then the company's operating profit for main and other activities for the 3rd quarter of 2010 was 101.5 mln EEK, a decrease of 8.3 mln compared to thesame period in 2009.

As of September this year, the total number of employees was 319 compared to 349 in September 2009. The decrease in staff size is primarily due to reorganization in various departments at the end of 2009. At the end of the quarter, 30 September 2010, the Group consisted of 2 companies. The subsidiary Watercom OÜ is wholly owned by AS Tallinna Vesi and consolidated to the results of the company. Watercom OÜ will focus on pursuing the parent company's non-regulated business opportunities across Estonia.