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Intralot profit slumps despite revenue gains

1st December 2011 7:38 am GMT

Lottery systems and services provider Intralot said Wednesday that higher payouts had offset a 5.2 per cent increase in third quarter revenues, which combined with higher costs to cut operating profit by almost 50 per cent.

Group revenues in the third quarter rose to €270.1m from €256.8m a year ago with cost of sales rising 10.4 per cent to €223.6m, cutting gross profit by 14 per cent to €46.49m.

Higher administrative costs, research and development expenses, and [...]

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