July 24 (SeeNews) - Montenegro's Crnogorski Telekom [MNG:TECG] recorded a net profit of 751,710 euro ($871,553) in the first half of 2020, down from 1.3 million euro in the like period of last year, the company said.
Revenue decreased by 8.6% on the year to 36.2 million euro, while earnings before interests, tax, depreciation and amortisation (EBITDA) declined 5.3% to 12.9 million euro, the telecommunications company said in a bourse filing.
"The momentum we gained at the beginning of the year and thanks to which we achieved significant results in the first quarter, was abruptly interrupted, and new circumstances in which we operate marked the entire second quarter. But even though it affected the results in the previous quarter, we did not allow it to affect our relationship with customers," CEO Dina Tsybulskaya said.
The number of postpaid customers increased by 3%, while mobile Internet users rose by 1% to 185,000, Crnogorski Telekom added.
Croatia's biggest telecoms operator, Hrvatski Telekom [ZSE:HT-R-A] controls 76.53% of Crnogorski Telekom.
($ = 0.862477 euro)