Srbija profits expected to fall 55%

2 Jan 2013

Telekom Srbija is expecting a 55% drop in annual profit for 2012, down to RSD10 billion (USD117.27 million) Bloomberg reports, citing the telco’s acting general manager Predrag Culibrk. The fall was attributed to dinar weakness during the first six months of 2012, which increased the cost of the state-backed telco’s foreign loans. Culibrk added that Telekom Srbija will look to double investments in 2013 to keep pace with its competitors.

Serbia, Telekom Srbija (MTS)