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Tipp24 shares slump as increased costs impact bottom line

7th August 2014 8:21 am GMT

Germany’s Tipp24 has reduced its earnings forecast for the full 2014 year after operating expenses rose significantly during the first half of the year.

The company had previously forecast full year EBIT (earnings before interest and tax) of between €25m and €35m. This has now been reduced by €10m to between €15m and €25m.

It follows a difficult period of trading for the lottery brokerage operator, which saw revenue fall by 10 per cent to €68.2m during [...]

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