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Olympic Entertainment Q2 profit climbs 18.9% YOY

Olympic Entertainment Group AS said its normalized net income for the second quarter came to 3 euro cents per share, an increase of 18.5% from 2 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €4.5 million, a gain of 18.9% from €3.8 million in the year-earlier period.

The normalized profit margin climbed to 10.8% from 10.1% in the year-earlier period.

Total revenue grew 11.9% on an annual basis to €41.6 million from €37.2 million, and total operating expenses grew 11.5% from the prior-year period to €34.3 million from €30.8 million.

Reported net income increased 16.7% from the prior-year period to €6.3 million, or 4 cents per share, from €5.4 million, or 4 cents per share.