Telenor Serbia revenues up 8.9 percent

Telenor Serbia's Q4 2012 revenues were at RSD 10.6 billion, up 8.9 percent from the same period last year.

According to the company's release, the number of subscribers grew 2 percent from Q4 2011, to 3.2m.

Capital expenditures were within the projected limits, although they have dropped significantly after the network modernization was completed early this year.

Telenor's Executive Finance Director Erlan Neten said that macroeconomic trends and market competition still substantially affected their operations.

- However, Telenor remains determined to keep on boosting revenues and improving its position in the market. This year we plan to raise the level of quality, coverage and data flow - Neten added.

The Telenor group registered NOK 26 billion worth of revenues in Q4 2012, which represents a 5 percent organic revenue growth.