April 1, 2014 / 11:47 AM / 3 years ago

Italy's Seat says 2013 core profit drops 61 percent

MILAN, April 1 (Reuters) - Italian yellow pages company Seat Pagine Gialle said on Tuesday its earnings before interest tax depreciation and amortisation (EBITDA) fell around 61 percent last year to 89.5 million euros ($123 million).

In a statement the debt laden company said revenues fell 23.6 percent to 503.3 million euros in 2013 while net debt stood at 1.46 billion euros. Its net loss narrowed to 347.6 million euros from 1.06 billion euros.

Shareholders in Seat Pagine Gialle gave the go ahead in March for a plan aimed at relaunching the company, allowing creditors to take control. ($1 = 0.7256 Euros) (Reporting by Danilo Masoni, editing by Stephen Jewkes)

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