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Bosnia's BH Telecom 2013 net profit falls 4.2 pct
April 28, 2014 / 11:36 AM / 3 years ago

Bosnia's BH Telecom 2013 net profit falls 4.2 pct

SARAJEVO, April 28 (Reuters) - Bosnia’s BH Telecom has posted a 4.2 percent drop in full-year net profit to 116.6 million Bosnian marka ($82.4 million), citing lower prices for international traffic and increased operating costs.

It also said revenue fell 2.1 percent in 2013 from the previous year to 566.8 million marka. The company previously said it expected its performance to pick up this year.

The Sarajevo-based company, which is 90 percent state-owned, operates mainly in parts of Bosnia’s autonomous Bosniak-Croat Federation, dominated by Bosniaks, while HT Mostar covers the mainly Croat-populated areas.

M:tel, owned by Serbia’s state-owned Telekom Srbija and based in the country’s autonomous Serb Republic, has reported an 8.6 percent fall in 2013 net profit to 101 million marka, citing worsening economic environment.

1$-1.414 Bosnian marka Reporting by Daria Sito-Sucic; Editing by Zoran Radosavljevic and David Holmes

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