AS Tallink Grupp (TAL1T) rose by the most in 12 months after cost cuts helped the largest Baltic ferry company report higher second-quarter profit.
The stock gained as much as 6 percent to 70.3 euro cents in Tallinn trade, the biggest rise since last August. Tallink has added 21 percent in the last 12 months, compared with a 1- percent gain for its eastern European transportation peers, according to data compiled by Bloomberg.
Tallink, which mainly ships passengers and goods between Estonia, Finland and Sweden, said yesterday that second-quarter net income rose to 20 million euros ($24.6 million) from 13.6 million euros a year earlier, citing higher revenue and the closure of its unprofitable Finland-Germany route.
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