SARAJEVO (Bosnia and Herzegovina), September 4 (SeeNews) – Bosnian telecommunications company HT Mostar [SAJ:HTKM] said on Wednesday it swung to a 2.57 million marka ($1.4 million/1.3 million euro) pre-tax loss in the first half of 2019, from a 184,320 marka pre-tax profit in the like period of last year.
The company's operating revenue shrank 2.9% on the year to 94.8 million marka in January-June, while operating costs edged down by 1.5% to 98.8 million marka, Hrvatske Telekomunikacije Mostar said in a filing with the Sarajevo Stock Exchange (SASE).
As a result, its operating loss jumped to 4.0 million marka from 2.6 million marka in the first six months of 2018.
HT Mostar is the smallest of three telecommunications companies operating in Bosnia, which comprises two autonomous entities, the Federation and the Serb Republic.
The government of Bosnia's Federation entity owns 50.1% of HT Mostar, Croatian telecommunications operator Hrvatski Telekom (HT) holds a 39.1% stake and Croatian postal operator Hrvatske Poste owns 5.23%. The remainder belongs to smaller shareholders.
HT Mostar is based in the southern city of Mostar and has its customers mainly in the Federation.
The other two Bosnian telecoms are BH Telecom, which is active in the Federation, and Telekom Srpske which operates in the Serb Republic.
HT Mostar shares last traded on the Sarajevo bourse on August 28, closing down 16.4% to 5 marka.
(1 euro=1.95583 marka)