Codere posts revenue, profit growth in 2017

Codere has reported year-on-year growth across revenue and profit for the 12 months to December 31, 2017.

Operating revenue for the year amounted to €1.64bn ($2bn), which represents an increase of 6% on the €1.55bn posted at the end of 2016.

Codere put this success down to growth in a number of its key markets, such as Argentina, Italy and Mexico.

Operating profit climbed 21.3% year-on-year to €131.1m, despite a decline in the fourth quarter.

Earnings before corporate income taxes amounted to €84m, while net income improved from a loss of €1.12bn in 2016 to a positive figure of €2.8m.

Elsewhere, earnings before interest, tax, deprecation and amortisation (EBITDA) was up 26% year-on-year to €246.8m, while adjusted EBITDA also increased by 2.2% to €273.6m.

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