Montenegrin "Telekom" registered profit of 10.5m EUR in 2008

The profit of Montenegrin "Telekom" amounted to 10.5m EUR in 2008, which is 50% less than in 2007 when it amounted to 23.6m EUR.

According to the decision from the meeting of the company’s assembly of stockholders, 9.8m EUR from the profit will be distributed among the stockholders in form of dividends.

The spare fund will get 5% of the profit, that is, 585,000 EUR, while 80,000 EUR will be kept as undistributed profit.

The business incomes of Montenegrin “Telekom” at the level of the group amounted to 132m EUR, which is 7% less than in 2007.

The business profit in 2008 amounted to 21.5m EUR, while net profit reached the amount of 24.6m EUR. This drop in profit is the consequence of the decrease in wholesales incomes, the payment of severance pays and the growth of amortization costs of fixed assets.

It has been decided that Daniel Sas, Gereon Hamel, Hans Peter Šulc, Pol Gabor, Janoš Sabo, Deneš Sluga and Tripko Krgović remain the members of the Board of Managers.