June 25, 2018 / 5:59 AM / 2 months ago

Italy's Cerved says acquisitions to boost core profit growth

MILAN, June 25 (Reuters) - Italian debt collector Cerved Group said on Monday it aimed for annual adjusted core profit growth of up to 8.5 percent on average in the next three years, partly thanks to acquisitions.

Cerved, which earlier this year bought the loan recovery business of Italy’s fourth-largest bank Monte dei Paschi di Siena, said it would grow adjusted earnings before interest, tax, depreciation and amortisation by 3 to 5 percent a year in 2018-2020, with acquisitions contributing a further 2-3.5 percent. (Reporting by Valentina Za; Editing by Gopakumar Warrier)

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