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OPAP Q1 profit climbs 18.4% YOY

Greek Organization of Football Prognostics SA said its normalized net income for the first quarter came to 16 euro cents per share, compared with the S&P Capital IQ consensus estimate of 17 cents per share.

EPS increased 18.4% year over year from 13 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €50.2 million, a gain of 18.4% from €42.4 million in the prior-year period.

The normalized profit margin rose to 31.0% from 18.5% in the year-earlier period.

Total revenue rose 11.1% on an annual basis to €254.6 million from €229.2 million, and total operating expenses increased 7.0% year over year to €174.0 million from €162.6 million.

Reported net income rose 16.9% year over year to €58.1 million, or 18 cents per share, from €49.7 million, or 16 cents per share.