Baltika Fashion Retailer Jumps on Revenue Spurt: Tallinn MoverBryan Bradley
Baltika AS, the third-biggest listed Baltic clothing company, rose in Tallinn trading to its highest level in two years after sales growth accelerated in April.
The stock rose for an eighth day and closed up 3.8 percent at 0.913 euro, the highest since May 13, 2011, valuing the company at 33 million euros ($43 million). Volume of 39,951 shares was equal to 188 percent of the three-month daily average, according to data compiled by Bloomberg.
Baltika, which at year-end had 113 clothing shops in Estonia, Lithuania, Latvia, Russia and Ukraine, today reported April sales of 4.7 million euros, 11 percent more than a year earlier. March sales growth was 3 percent. The company’s shares have risen 59 percent since the end of 2012, when it returned to profit after 4 years of annual losses.