SARAJEVO (Bosnia and Herzegovina), September 2 (SeeNews) – Bosnia’s state-controlled BH Telecom [SAJ:BHTS] said its net profit rose to 23.4 million marka ($13 million/12 million euro) in the first six months of 2019, from 22.1 million marka in the like period a year earlier, as costs fell faster than revenue.
Operating income declined 3.4% to 224 million marka, while operating costs dropped 4.9% to 198 million marka, BH Telecom said in a semi-annual financial statement filed with the Sarajevo Stock Exchange on Friday.
Still, the telco's operating profit increased by 10.6% on the year to 26 million marka in January-June.
The company's shares closed 1.69% higher at 12 marka on the Sarajevo bourse on Friday.
BH Telecom is the largest of the three telecommunications companies operating in Bosnia, which comprises two autonomous entities, the Federation and the Serb Republic. The Federation's government controls 90% of BH Telecom.
BH Telecom is based in Bosnia's capital Sarajevo and has its customers mainly in the Federation. The company offers fixed and mobile voice services and Internet access.
The other two Bosnian telecoms are HT Mostar, which is active in the Federation, and Telekom Srpske which operates in the Serb Republic.
(1 euro = 1.95583 marka)