Bosnia's BH Telecom posts 25 pct profit fall

Mtel ad Banja Luka

20/08/2014 15:00

SARAJEVO, Aug 20 (Reuters) - Bosnia's BH Telecom  BHTS.SJ  
posted a 25 percent fall in first-half net profit on Wednesday, 
citing the weak economy and ever-increasing competition in the 
Balkan country. 
    The state-owned company said the fall to 43.8 million 
Bosnian marka ($30 million) of net profit on revenue down 1.2 
percent at 268.3 million marka was also attributable to the 
struggle to keep up with fast-changing technology and 
internet-based services such as Skype. 
    "The lower profit is an effect of negative macroeconomic 
trends caused by recession over the previous years in the 
countries of euro zone and the region that have continued this 
year," BH Telecom said on its website. 
    Sarajevo-based BH Telecom, which is 90 percent state-owned 
and operates mainly in parts of Bosnia's autonomous Federation 
dominated by Muslim Bosniaks, kept its dividend unchanged at 
1.73 marka per share. 
    Its main rival m:tel  TLKM.BJ , owned by Serbia's 
state-owned Telekom Srbija and based in the country's autonomous 
Serb Republic, last month posted first-half net profit up 3 
percent to 45.9 million marka on revenue also up 3 percent. 
    HT Mostar  HTKM.SJ , based in the mainly Croat-populated 
areas of Bosnia, reported a 63 percent slide in first-half net 
profit to 2.35 million marka, on revenue down 6.5 percent at 
114.2 million marka. 
(1$ = 1.465 Bosnian marka) 
      
 
 (Reporting by Daria Sito-Sucic; Editing by David Goodman) 
 ((daria.sito-sucic@thomsonreuters.com; +38733 295 484; Reuters 
Messaging: daria.sito-sucic.thomsonreuters.com@reuters.net)) 
 
Keywords: BOSNIA BHTELECOM/RESULTS