Croatia's Hrvatski Telekom H1 cons net profit down 2.5% y/y.

By bne IntelliNews July 27, 2012
Croatia's Hrvatski Telekom said its net profit decreased by 2.5% on the year to HRK 808mn (EUR 107mn) in the first half of the year. Total consolidated revenues dropped by 6% on the year to HRK 3.65bn in H1, the company said in a filing with the Zagreb bourse. EBITDA fell by an annual 2.9% to HRK 1.62bn. The number of residential subscribers went down by 4% and of the corporate ones rose by 7.4% on the year. Hrvatski Telekom's CEO, Ivica Mudrinic, said in the statement that the company maintained its leading position on the telecommunications market, adding that the telecom was not immune to the impact of competitive pressures and the persistent economic slowdown in the Croatian economy. He explained that the company will continue to focus on innovation and the provision of premium quality services by the further development of 4G services after the launching of the LTE mobile network this year.

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