A year-on-year rise of 50 percent
OPAP announces 'solid growth' despite Q2 tax bill
(Greece).- OPAP attributed a 44.5 percent fall in second quarter net profits, to 15.7 M euros, was largely due to a tax bill of 21.6 M euros dating back to 2010, and said that its results had been largely solid.
2014-08-29
Reading time 28 seg
(Greece).- OPAP attributed a 44.5 percent fall in second quarter net profits, to 15.7 M euros, was largely due to a tax bill of 21.6 M euros dating back to 2010, and said that its results had been largely solid.
After agreeing a deal with the Greek government to delay payment of the remaining balance until the second quarter of this year, OPAP must now complete full payment by the end of the quarter. Earnings before interest, tax, depreciation and amortisation (EBITDA) reached 68.6 million euros on the period, a year-on-year rise of 50 percent, beating analysts’ forecasts of 61.8 million euros. In addition, net profit excluding tax and other one-off items also jumped 56 percent, to 44.2 million euros.
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