October 28 (SeeNews) - Montenegro's Crnogorski Telekom [MNG:TECG] recorded a net profit of 2.65 million euro ($2.63 million) in the first nine months of 2022, down from 3.75 million euro in the like period of last year, the company said.
Revenue increased by 4.8% on the year to 59.4 million euro, while operating costs went up 2.8% to 44.5 million euro, the telecommunications company said in a bourse filing.
The number of postpaid customers increased by 9% to 281,000, while mobile Internet users rose by 10% to 249,000, Crnogorski Telekom added.
"[...] Telekom has the largest coverage of the populated territory of Montenegro - more than 97% of the population and almost 78% of the total territory of Montenegro is covered by our 4G network. At the same time, Telekom covered almost 70% of the population with the 5G network, as the first operator with the largest 5G network coverage in the territory of Montenegro," CEO Stjepan Udovicic said.
Crnogorski Telekom's capital is comprised of 47,273,940 shares at a nominal price of 2.62 euro apiece. The company is listed on the prime market segment of the Montenegro Stock Exchange and it last traded on Tuesday at a price of 1.50 euro per share.
Croatia's biggest telecoms operator, Hrvatski Telekom [ZSE:HT-R-A] controls 76.53% of Crnogorski Telekom.
($ = 1.00486 euro)