OPAP BEATS ANALYSTS FORECASTS

Tuesday May 26,2015 :  OPAP BEATS ANALYSTS FORECASTS

First quarter results exceed expectations

Greek gambling company Greek Organisation of Football Prognostics SA (OPAP) continues its recovery from the effects of the economic recession reporting an 18 percent increase in net profit during its first quarter period, a result attributable in part to the launch of new games and cost cutting measures.

Net profit amounted to Euro 58.7 million (Q1/2014: Euro 49.7 million) beating analysts’ forecasts in a Reuters poll of Euro 54.1 million.

OPAP delivered an increase in sales of 16 percent to Euro 1.1 Billion boosted by the launch of new content, while revenue from its Pame Stoichima and Kino games brought in Euro 912.6 million collectively, Reuters reported.