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Bosnia’s Telekom Srpske 9-mo cons net profit grows 43% y/y

Bosnia’s Telekom Srpske 9-mo cons net profit grows 43% y/y Author: Ken Teegardin. Licence: Creative Commons, Attribution-ShareAlike 2.0 Generic.

SARAJEVO (Bosnia and Herzegovina), November 4 (SeeNews) – Bosnia’s Telekom Srpske [BANJ:TLKM-R-A] said its consolidated net profit rose to 63.4 million marka ($36.2 million/32.4 million euro) in the first nine months of 2019, from 44.3 million marka in the like period of last year.

Total operating income increased 6.9% on the year to 350.4 million marka in the nine months through September, while operating costs added 8.6% to 310.9 million marka, Telekom Srpske said in an interim consolidated financial statement filed with the Banja Luka Stock Exchange on Friday.

Telekom Srpske is the second-largest telecommunications company in Bosnia. It is majority-owned by Serbian state-controlled Telekom Srbija and has clients mainly in Bosnia’s Serb Republic entity, which forms Bosnia together with the Federation.

Bosnia, a country of 3.8 million, has two other telecommunications companies, both state-controlled - HT Mostar and BH Telecom.

Telekom Srpske's shares traded at 0.90 marka by 1239 CET on Monday on the BLSE, up 2.75% from Friday's close.

(1 euro = 1.95583 marka)