Banja Luka-based Telekom Srpske, which offers its services under the m:tel banner, has reported an 11% year-on-year decline in profit for the first six months of 2015, according to Reuters, with the drop having been attributed to increased costs related to acquisitions.
In the six months ended 30 June 2015 Telekom Srpske generated a total turnover of BAM235.0 million (USD132.8 million), representing an increase of just 0.25% against the same period a year earlier. Operating costs, meanwhile, were reportedly up by 7.4% against H1 2014 at BAM187.3 million, mainly as a result of acquisitions both in the company’s domestic market and in Austria. Despite the impact of the purchases – which included local alternative broadband provider Logosoft, completed in October 2014 – on its financial results, Telekom Srpske has said it now expects to see a significant increase in revenues in the ‘next period’. Profit for the first half of 2015 meanwhile totalled BAM40.8 million.