SARAJEVO (Bosnia and Herzegovina), March 12 (SeeNews) – Bosnian telecommunications company HT Mostar [SAJ:HTKM] said its net profit plummeted to 115,600 marka ($67,015/59,109 euro) in 2019, from 2.25 million marka a year earlier.
The company's operating revenue shrank 4.2% to 195.3 million marka in January-December, while operating costs fell 4.1% to 197 million marka, Hrvatske Telekomunikacije Mostar (HT Mostar) said in a filing with the Sarajevo Stock Exchange (SASE) on Wednesday.
As a result, its operating loss widened to 1.6 million marka from 1.5 million marka in 2018.
However, the company reported a 1.9 million marka profit from financial activities last year, down 22% from 2018. It also turned to a 141,658 marka profit in the segment of Other revenue/costs in 2019, from a 4,583 marka loss a year earlier.
HT Mostar is the smallest of three telecommunications companies operating in Bosnia, which is made up of 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 December 13, closing unchanged at 5 marka.
(1 euro = 1.95583 marka)