August 29, 2013 / 6:01 AM / in 4 years

Fortuna lags forecasts with 34.5 pct profit rise

1 Min Read

PRAGUE, Aug 29 (Reuters) - Czech betting firm Fortuna Entertainment Group posted a 34.5 percent jump in net profit for the first half of 2013 thanks to a rise in amounts staked and a lower loss on its lottery business, just missing expectations for a 37 percent rise.

Net profit was 7.56 million euros ($10.1 million), the company said on Thursday. Gross winnings rose 4.1 percent to 57.41 million on a 20.4 percent jump in amounts staked to 275.86 million, above expectations of 267.4 million in a Reuters poll of six analysts.

Earnings before interest, tax, depreciation and amortisation rose 27.4 percent to 12.92 million, lagging a forecast of 13.7 million.

$1 = 0.7496 euros Reporting by Jan Lopatka; Editing by Mark Potter

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