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Olympic Entertainment Q1 profit climbs 13.2% YOY

Olympic Entertainment Group AS said its first-quarter normalized net income amounted to 3 euro cents per share, a gain of 13.6% 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 €4.0 million, an increase of 13.2% from €3.6 million in the year-earlier period.

The normalized profit margin climbed to 10.3% from 10.2% in the year-earlier period.

Total revenue climbed 12.4% year over year to €39.1 million from €34.8 million, and total operating expenses grew 11.7% from the prior-year period to €32.2 million from €28.8 million.

Reported net income rose 12.1% from the prior-year period to €5.5 million, or 4 cents per share, from €4.9 million, or 3 cents per share.