Bosnian Serb telecom operator Telekom Srpske has reported a KM 35.25 million (EUR 18 million) gross profit in the first half of 2005, up 6 percent on the year. According to the director of Telekom Srpske, Slavisa Krunic, in the same period the operator registered revenues of KM 149 million, while expenses totalled KM 114 million. Meanwhile, auditor Bosko Ceko has published a report that reveals that the financial reports of Telekom Srpske for the years 2003 and 2004 are truthful and objective but points out that the company did not dedicate enough attention to profitability. According to the auditors report, Telekom Srpske's revenues for 2003 (KM 86 million) and 2004 (KM 85 million) represent overrated numbers and need to be corrected. Ceko added that the new Telekom Srpske management has already made numerous changes, based on his instructions, and this is a positive development. His message to the new management is to put under control expenses of internal phone calls (employees spent KM 5.9 million on phone talks) and to use financial means more efficiently.
