March 27, 2019 / 4:45 PM / 3 months ago

OPAP fourth-quarter profit up 16 percent, misses forecast

ATHENS, March 27 (Reuters) - OPAP, Europe’s fourth-largest betting firm by revenue, on Wednesday posted a 16 percent rise in fourth-quarter net profit thanks to a growing video lottery business and cost savings.

Net profit in the October-to-December period stood at 38 million euros ($42.75 million), up from 33 million euros in the same period last year, OPAP said.

The figure was below analysts average forecast of 51.8 million euros in a Reuters poll. ($1 = 0.8889 euros) (Reporting by Angeliki Koutantou Editing by Karolina Tagaris)

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