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Montenegro's Crnogorski Telekom 9-mo net profit rises 5.2%

Montenegro's Crnogorski Telekom 9-mo net profit rises 5.2%

PODGORICA (Montenegro), November 3 (SeeNews) – Montenegrin telecommunications company Crnogorski Telekom [MNG:TECG] said its net profit rose to 18 million euro ($22.5 million) in the first nine months of 2014 from 17.1 million euro a year earlier.

The company's revenues fell by an annual 5.0% to 79.3 million euro through September mainly due to lower income from interconnection and retail voice services, Crnogorski Telekom said in a statement posted on its website on Friday.

Earnings before interest, taxes, depreciation and amortization (EBITDA), excluding special items, declined by 2.0% to 32.5 million euro in the first nine months, while earnings before interest and taxes (EBIT) rose by 900,000 euro to 19 million euro.

The subscribers of the telco's wireless arm, T-Mobile, declined by an annual 7.0% to 368,000 at the end of September due to a 15% decrease in the number of pre-paid customers, it said.

T-Mobile’s market share fell by 2.3% on the year to 33% in the review period.

Crnogorski Telekom's ADSL subscribers rose by an annual 5.0% to 76,900 at the end of June. Subscribers to the telco's digital Extra TV service increased 7.0% on the year to 63,800.  Extra TV service kept its lead on the local pay TV market with a 41.6% share in terms of customers.

Crnogorski Telekom is part of Hungary's Magyar Telekom.

Montenegro has a population of around 630,000.

($=0.7985 euro)