Bosnian multi-service operator BH Telecom has reported net profit of BAM78.6 million (USD45 million) in 2014, a 32% year-on-year decrease on the BAM116.6 million booked in the previous fiscal year. With the telco attributing the drop mainly to higher costs, according to Reuters the telco had previously estimated at the end of December 2014 that it would report a net profit of BAM113.4 million for FY14. Meanwhile, BH Telecom’s total turnover for the year ended 31 December 2014 declined by 2.7% y-o-y to BAM576.8 million, as the number of subscribers to its fixed line and mobile services were said to have declined. Costs for the year under review were up, rising by 6% against FY13 to BAM488.5 million.
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