Firm registered sales of USD 460M in the three months through to the end of June
Codere posts impressive Q2 figures
Spanish gaming group Codere has posted an impressive increase in revenue for the second quarter of 2015.
2015-09-07
Reading time 32 seg
Spanish gaming group Codere has posted an impressive increase in revenue for the second quarter of 2015.
Codere registered sales of €409m ($460m) in the three months through to the end of June – a 25% increase over the corresponding period in 2014.
Adjusted earnings before interest, tax, depreciation and amortisation totalled €66m, representing a 49% year-on-year spike and above previous forecasts.
Codere cited improved performances in Argentina and Mexico and the stronger dollar and Latin American currencies against the euro for the latest results.
As a result of the latest figures, Codere reduced its losses by 65% to €13m. Codere said that it would continue to work with its creditors in implementing a financial restructuring plan that was agreed as part of an amendment to the ‘Lock up Agreement’ announced to the market on August 18.
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