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Kaubamaja Reports Lower Second-Quarter Profit on Dividend Tax

AS Tallinna Kaubamaja, Estonia’s largest retailer, reported lower second-quarter profit, citing tax expenses on dividend payment.

Net profit declined to 3.6 million euros ($5.1 million) from 4.9 million euros a year earlier, the Tallinn-based company said in a regulatory statement today. Revenue rose 7 percent to 110 million euros.

Kaubamaja paid dividend tax of 3 million euros in June. It paid no tax on dividends last year.

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