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OPAP Q1 profit falls YOY

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OPAP Q1 profit falls YOY

Greek Organization of Football Prognostics SA said its first-quarter normalized net income amounted to 15 euro cents per share, a decline from 15 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 €47.0 million, a decline from €48.9 million in the year-earlier period.

The normalized profit margin fell to 30.6% from 31.0% in the year-earlier period.

Total revenue decreased year over year to €153.8 million from €157.7 million, and total operating expenses declined on an annual basis to €75.7 million from €79.2 million.

Reported net income fell 9.0% from the prior-year period to €52.8 million, or 17 cents per share, from €58.1 million, or 18 cents per share.