CORRECTED-BH Telecom posts H1 profit of $44.4 mln, down 10 pct
(Corrects profit to gross from net in first two paragraphs)
SARAJEVO Aug 20 (Reuters) - Bosnia's BH Telecom posted a first-half gross profit 10 percent down from the same period of the last year as the country's top telecoms company battles mounting competition from privately owned rivals.
The state-owned company reported a first-half gross profit of 65.1 million Bosnian marka ($44.4 million) on revenue 3 percent lower at 285.5 million marka.
BH Telecom said it was working to adjust its business strategy to market conditions and improve services to maintain its leading position on Bosnia's liberalised market.
The Sarajevo-based company, which is 90 percent state-owned, operates mainly in parts of Bosnia's autonomous Federation dominated by Bosnian Muslims or Bosniaks, and faces fierce competition from other two rival telecoms companies.
M:tel, owned by Serbia's state-owned Telekom Srbija and based in the country's autonomous Serb Republic but operating across Bosnia, has reported a first-half net profit of 44.6 million marka, down 13 percent on subscriber losses.
HT Mostar, based in the mainly Croat-populated areas of Bosnia, reported a first-half net profit of 6.4 million marka, down 18 percent, on revenues of 122.2 million marka. (1$=1.466 Bosnian marka)
(Reporting by Daria Sito-Sucic; Editing by Louise Heavens and Erica Billingham)
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