HT revenues, profits up

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The Croatian Telekom (HT) registered 5.2 billion kuna in its overall revenues in the first nine months, which was 1% up compared to the corresponding period in 2014, and the company's net profit increased 2% to HRK 730 million, according to a financial statement released by this leading Croatian telecommunications company,

"During the first nine months of 2015, Hrvatski Telekom recorded an increase of all key financial indicators. During the nine month period, HT revenue grew by 1% year on year to total HRK 5.19 billion. In addition, earnings before interest, taxation, depreciation, and amortisation (EBITDA before exceptional items) reached HRK 2.1 billion, an increase of 1.5% in comparison to the previous year. Furthermore, HT maintained a high EBITDA margin of 40.1%, slightly increased compared to 39.9 % in the same period of the previous year. Net profit in the first nine months of 2015 amounted to HRK 730 million, a 2% increase over the previous year," reads the statement.

HT’s performance in the first nine months of 2015 was characterised by increased capital expenditure.

"During the nine month period, investments increased by 18% in comparison to the same period of the previous year. For the full 12 months of 2015, HT expects its investments to total more than HRK 1.3 billion, marking a 25% increase over 2014."

The HT Management Board chair Davor Tomaskovic was quoited as saying that “looking back on a highly successful third quarter, marked by revenue growth and increased profitability, we are exceptionally proud that after six years we have managed to achieve a turnaround in operational results – with all key financial indicators stabilised, and the upward trend seen in the first half of the year reaffirmed. We continue to focus on increasing our investment in infrastructure development, which will enable us to offer innovative products and the best quality and fastest services on the Croatian market. The successful completion of our IP transformation initiative, which positions Hrvatski Telekom alongside Europe’s top telecommunications operators, is a further endorsement of our position of the absolute technology leader in the Croatian market.“

The good news about this company led to an increase in the price of HT share on the Zagreb Stock Exchange by 3% on tThursday morning and by Thursday noon it reached  148 kuna.

(EUR 1 = HRK 7.6)