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UPDATE 1 - Crnogorski Telekom 2013 net profit edges down 5.5%, mobile users up 3.8%

UPDATE 1 - Crnogorski Telekom 2013 net profit edges down 5.5%, mobile users up 3.8%

PODGORICA (Montenegro), February 28 (SeeNews) – Montenegrin telecommunications company Crnogorski Telekom said on Friday its net profit fell to 18.8 million euro ($25.7 million) in 2013 from 19.9 million euro a year earlier.

Revenues decreased by an annual 3.6% to 110.2 million euro in 2013, mainly due to lower income from interconnection and retail voice services, Crnogorski Telekom said in a statement on its website.

Earnings before interest, taxes, depreciation and amortization (EBITDA), excluding special items, fell 2.0% to 43.3 million euro in 2013.

The subscribers of the telco's wireless arm, T-Mobile, rose by an annual 3.8% to 352,800 at the end of December. Postpaid customers increased 1.0% on the year to 138,100, enabling T-Mobile to keep and strengthen its lead on the segment with a share of 42.5%, it said.

Crnogorski Telekom's ADSL subscribers rose by an annual 6.8% to 74,400 at the end of December while its IPTV subscribers increased 9.8% to 61,800. The telco's digital Extra TV service kept its lead on the local pay TV market with a 41.6% share in terms of customers.

The company had 167,200 fixed lines at the end of 2013, down 0.4% on the year.

Crnogorski Telekom is part of Hungary's Magyar Telekom.

Montenegro has a population of around 630,000.

($=0.7321 euro)

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