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OPAP BEATS ANALYSTS FORECASTS
26th May, 2015 at 21:43:32
First quarter results exceed expectations
Greek gambling company Greek Organisation of Football Prognostics SA (OPAP) continues its recovery from the effects of the economic recession reporting an 18% increase in net profit during its first quarter period, a result attributable in part to the launch of new games and cost cutting measures.
Net profit amounted to Euro 58.7 million (Q1/2014: Euro 49.7 million) beating analysts' forecasts in a Reuters poll of Euro 54.1 million.
OPAP delivered an increase in sales of 16% to Euro 1.1 Billion boosted by the launch of new content, while revenue from its Pame Stoichima and Kino games brought in Euro 912.6 million collectively, Reuters reported.
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