ZEAL posts revenue growth despite profit drop in H1

ZEAL Group has reported mixed results for the first half of 2017, with revenue up year-on-year, but net profit and earnings before interest and tax (EBIT) down.

Revenue in the first six months of the year came in at €62.4m ($73.4m), up from €38.3m in the corresponding period last year, while total operating performance also climbed from €61.4m to just under €65m.

However, EBIT dropped from €10.3m to €7.8m, while net profit was down from €6.3m to €5.6m.

As a result, earnings per share for the period came in at €0.67, compared to €0.75 last year.

Helmut Becker, chief executive of ZEAL, said: “In the first half of the year, we made good progress and stayed fully in line with our internationalisation strategy.

“Later this year, we expect to receive a licence to operate in the Czech Republic.

“Our innovative lottery products and long-standing experience help us to make successful new market entries.

“At the same time, we further push the expansion of our B2C product portfolio and make strategic investments, including our stake in Omaze.'

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