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Telekom Slovenije's H1 cons net profit rises

Telekom Slovenije's H1 cons net profit rises hin255/

LJUBLJANA (Slovenia), July 24 (SeeNews) – Telekom Slovenije [LJE:TLSG] said on Wednesday its consolidated net profit increased 35% year-on-year in the first half of 2019 at the group level, reaching 19.6 million euro ($21.9 million).

Telekom Slovenije Group's first-half consolidated net sales revenue fell 5% on the year to 340.6 million euro, while operating revenues totalled 343.1 million euro, the telco said in a filing to the Ljubljana Stock Exchange.

“The revenues generated are not directly comparable with revenues in the same period last year, as this year’s revenues no longer include revenues from the Blicnet company, which was sold at the end of 2018, and 2018 revenues also included revenues from the project of installation of electronic toll collection, which was completed last year,” the company noted.

The group’s consolidated earnings before interest, taxes, depreciation, and amortisation (EBITDA) expanded 11% to 112.3 million euro.

The group allocated 69.2 million euro for investments during the first six months of this year.

The Telekom Slovenije Group employed 3,449 as at June 30, down from 3,530 at the end of 2018.

In February, Telekom Slovenije said it has concluded the sale of its 100% stake in its Bosnian unit Blicnet to Bosnian company Telekomunikacije Republike Srpske.

($ = 0.89498 euro)