Business Profits Rise in 1st Quarter ({{commentsTotal}})

The Estonian business sector earned a total of 705 million euros in profit in Q1 of 2014, 10 percent more than during the same period a year ago.

The greatest increase in profits came in from the information and communication, agriculture and technology sectors, with construction, real estate, and transport and warehouse sectors pulling the figures the other way, Statistics Estonia said today.

More statistics from the Statistics Estonia report:

* Sales amounted to 11.8 billion euros, 2 percent less than a year ago
* Total costs decreased by 3 percent while labor costs increased, by 8 percent
* The number of people increased by 1 percent, but 4 percent more man hours were put in
* The average job created 5,200 euros of added value in the first quarter, increasing by 7 percent
* Investments totaled 537 million euros, up by 3 percent

The first quarter is traditionally the slowest quarter for business.