HT Mostar net profit drops 64% y/y to EUR 1.2mn in H1 [IntelliNews - Weekly Reports]
(IntelliNews - Weekly Reports Via Acquire Media NewsEdge) Bosnian telecommunications operator HT Mostar said its net profit declined 63.5% y/y to BAM 2.4mn (EUR 1.23mn) in the first six months of 2014 as revenues fell faster than expenditures.
Total revenue recorded a 6.5% annual drop to BAM 114.2mn in January-June, the company said on its website. Total expenditures declined by a slower pace of 2.7% y/y to BAM 111.5mn in the reviewed period.
In addition, the company's total assets decreased by 4.2% y/y to BAM 423mn at the end of the first half of the year on a 5.5% y/y drop in the value of fixed assets.
HT Mostar is the smallest of three telecom providers in Bosnia. The other two are BH Telecom – the largest mobile operator and Telekom Srpske, which is controlled by Serbia's state-owned Telekom Srbija. In 2013, HT Mostar's net profit dropped 19.6% to BAM 14.4mn.
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