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Olympic Entertainment Q2 profit falls YOY

Olympic Entertainment Group AS said its second-quarter normalized net income was 2 euro cents per share, a decrease of 22.5% from 3 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 €3.5 million, a decline of 22.5% from €4.5 million in the year-earlier period.

The normalized profit margin dropped to 7.1% from 10.8% in the year-earlier period.

Total revenue rose 12.1% year over year to €46.6 million from €41.6 million, and total operating expenses grew 20.3% year over year to €41.3 million from €34.3 million.

Reported net income decreased 26.5% from the prior-year period to €4.7 million, or 3 cents per share, from €6.3 million, or 4 cents per share.