Croatian telecoms equipment maker ENT says H1 net profit up 116.8% y/y.

By bne IntelliNews July 30, 2012
Croatian telecoms equipment manufacturer Ericsson Nikola Tesla (ENT) said its unconsolidated net profit soared 116.8% on the year to HRK 80.1mn (EUR 10.6mn) in the first six months of 2012. In the second quarter of 2012 alone, the company raised its net profit to HRK 44.4mn from HRK 5mn in Q2 2011, ENT said in its unaudited 2011 financial report filed with the Zagreb Stock Exchange. The firms total Jan-Jun revenue rose to HRK 880.3mn in H1 from HRK 610.6mn a year earlier as sales revenue also went up 44.4% on the year to HRK 853.4mn. Most of the sales revenue (85%) was realised on the foreign markets. In respect to the business segment, the biggest part of sales revenue was reported by the network infrastructure segment (HRK 494.8mn or 58% of the total sales revenues), followed by professional services (HRK 236.9mn or 27.8% of the total sales revenues) and multimedia solutions (HRK 121.7mn or 14.2% of the total sales revenues). ENTs total expenses increased by 39.5% on the year to HRK 800.3mn in Jan-Jun. The companys main shareholders are Telefonaktiebolaget LM Ericsson, who holds 49.07% stake, and Hypo Alpe-Adria-Bank/ Raiffeisen Mandatory Pension Fund, who holds 9.12% stake. The remainder belongs to smaller shareholders.
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