Croatia's leading telecom operator T-HT HT.ZA (THTCq.L) said on Friday that revenue would slip in 2009 on the global crisis, after posting 2008 revenue up 2.7 percent to 8.82 billion kuna ($1.51 billion).
As Jen mentioned in her earlier post, the global economic crisis has impacted many countries around the world. In regards to media/ad spending, there has been a significant decline in marketing/advertising budgets. This was seen during the recent Super Bowl, where the usual big players such as car and beer companies had little advertising.
T-HT, majority-owned by Deutsche Telekom (DTEGn.DE), said net profit had fallen 6.6 percent to 2.3 billion kuna (Croatian currency). The CEO plans to continue monitoring the market for any profitable acquisition opportunities. This is also predominantly seen in the U.S with the whole vertical integration process. It's disheartening to see how serious the economic crisis really is and how it effects so many different facets of a company.
-Vikash Kothari (Croatia)
Monday, March 2, 2009
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