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Currency fluctuations and inflation weigh on Codere results

27th February 2019 8:26 am GMT

Madrid-listed gaming operator Codere grew fourth quarter operating profit by 17.2 per cent to €30.3m, as lower expenses offset a 14.6 per cent fall in revenue.

Revenue in the fourth quarter of 2018 amounted to €360.8m versus €422.7m a year ago, contributing to a 9.9 per cent fall in full year revenue to €1,476.4m.

The company attributed the revenue decline to a 30 per cent fall in Argentine revenue due to the depreciation of the Argentine Peso [...]

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