T-HT happy with results in weak economy

30 Jul 2009

Croatia’s former monopoly fixed line operator T-Hrvatski Telekom (T-HT) has reported that its first-half consolidated net income fell by 2.9% year-on-year to HRK1.1 billion (USD210 million), on revenues that rose 0.7% to HRK4.2 billion. The Deutsche Telekom subsidiary, which includes mobile unit T-Mobile Croatia, blamed the fall in profitability on restructuring costs, whilst it said the slight increase in turnover was driven by growth in its customer bases for fixed broadband internet access, mobile telephony and mobile data services. The company expressed overall satisfaction with the six-month results, in light of the fact that Croatia’s economy is forecast to shrink by around 5% in full-year 2009.

Croatia, Hrvatski Telekom (HT)