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Entraction sees 2010 profit cut by 61%

10th February 2011 10:22 am GMT

Despite significantly reducing its operating costs as a result of the company’s action programme initiated last August, Sweden’s Entraction has recorded a 61 per cent decline in profit from continuing operations for the 2010 year, as total net sales fell 22 per cent to SEK340.8m (€38.8m).

Entraction attributed the decline in net sales to currency exchange losses as well as the closure of Cardroom2 in 2009. Excluding these, net sales were down 7 per cent year-on-year, [...]

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