T-HT’s 1H net profit falls 15.6%

8 Aug 2008

Croatian incumbent telco T-Hrvatski Telekom (T-HT), a majority-owned unit of Deutsche Telekom, has posted a 2.1% year-on-year rise in first-half revenues to HRK4.2 billion (USD901 million), but its net profit dropped by 15.6% in the same period to HRK1.1 billion. In a statement T-HT said that growth in turnover in the six months ended 30 June 2008 was driven by mobile (via subsidiary T-Mobile Hrvatski), internet and wholesale services, whilst the fall in profitability was mainly attributed to a lower contribution from its partly owned Bosnian unit HT Mostar. T-HT also said it planned to increase its minority stake in HT Mostar – currently majority controlled by the government of Bosnia and Herzegovina – as part of a strategy of pursuing regional expansion opportunities.

Croatia, Hrvatski Telekom (HT), HT Mostar (HT Eronet)