ATHENS, Aug 29 (Reuters) - Greece’s betting monopoly OPAP posted on Thursday a 78 percent annual drop in second-quarter net profit, hurt by higher taxes and the country’s deepening recession.
Net profit fell to 28.4 million euros, broadly in line with analysts forecasts in a recent Reuters poll.
Sales dropped by 12 percent year-on-year to 875 million euros, slightly higher than analysts’ 863-million-euro average forecast.
Greece completed the sale of a majority stake in OPAP to Greek-Czech investment fund Emma Delta for 652 million euros earlier this month. It was the country’s first big privatisation under its bailout programme. (Reporting by Angeliki Koutantou)