July 25 (SeeNews) - Croatian telecommunication equipment manufacturer Ericsson Nikola Tesla [ZSE:ERNT-R-A] said on Thursday its first-half consolidated net profit increased 15.6% on the year to 71.1 million kuna ($10.7 million/9.6 million euro).
The company's sales revenues rose 7.8% to 821.7 million kuna, mainly driven by higher sales revenue on the domestic market, Ericsson Nikola Tesla said in a Zagreb bourse filing.
Of the total sales revenue, 21.5% was generated on the domestic market, services to parent Ericsson accounted for 64.4%, while other export markets contributed 14.1%.
In July, Nikola Tesla signed a 34 million kuna framework agreement with Bosnian telecommunications operator HT Eronet for expanding the LTE network across Bosnia.
In the review period, Ericsson's operating profit amounted to 83.9 million kuna, unchanged from the first half of 2018.
Sweden's Ericsson owns 49.07% of the Croatian company.
(1 euro = 7.37346 kuna)