Telematic Interactive Bulgaria Q1 cons net profit shrinks 38% y/y

The company's overall revenue rose to some 31 million levs in January-March from 29.1 million levs a year earlier, Telematic said in a financial statement last week. Revenue from sales of services came in at 30.6 million levs, marking a 6.3% annual increase.

A little over 88% of the company's sales revenue was generated from online casino games, the income from which added an annual 7.7%. Meanwhile, sports betting revenue grew by 1.3% on the year to 2.3 million levs in the review period.

The average number of active users climbed by 4.2% year-on-year to 99,145, while the average revenue per client went up 2.5%.

Telematic Interactive's operating expenses widened to 26.4 million levs in the three months through March from some 22.1 million levs in the prior-year period. The rise was chiefly due to a 25% leap in costs for hired services to 15.9 million levs and a 50% surge in personnel costs to 2.6 million levs.

As of 1556 CEST on Monday, shares in Telematic Interactive traded flat at 15.60 levs on the Bulgarian Stock Exchange.

(1 euro = 1.9558 levs)