Telekom Srbija profits fall 49.5%

19 Apr 2013

Serbian state-backed telco Telekom Srbija has booked net profits of RSD11.25 billion (USD130.93 million) in the twelve months to 31 December 2012, a decline of nearly 50% from RSD22.27 billion reported in 2011. Bloomberg writes that the company’s operating profit increased to RSD19.77 billion from RSD19.57 billion a year earlier, though this was offset by an increase in costs to RSD12.46 billion. CommsUpdate reported earlier this week that the government had reiterated its stance towards the company, saying that it was open to ‘credible’ offers but noting that Telekom Srbija had been put up for sale in the past without success.

Serbia, Telekom Srbija (MTS)