Kathimerini English - - Focus -

raised tax­a­tion on OPAP’s rev­enue by 5 per­cent­age points to 35 per­cent as part of an in­ter­na­tional bailout, the third since 2010. Core profit – earn­ings be­fore in­ter­est, tax, de­pre­ci­a­tion and amor­ti­za­tion (EBITDA) – dropped to 83.7 mil­lion euros from 103.6 mil­lion euros in the fourth quar­ter of 2015. Net profit rose 6.7 per­cent to 55.1 mil­lion euros, helped by the ab­sence of a one-off im­pair­ment that was booked in the last quar­ter of 2015. OPAP will pay a div­i­dend of 0.72 euro a share, up from 0.40 euro on 2015 re­sults. Gross gam­ing rev­enue dropped 0.5 per­cent to 399.6 mil­lion euros, mainly due a weaker per­for­mance of its lottery business. sues in the in­debted coun­try’s cur­rent bailout talks. Short-dated Greek bond yields fell to a two-month low of 7.47 per­cent and were last down 50 ba­sis points. Greece’s 10-year gov­ern­ment bond yield fell more than 30 ba­sis points to a five-week low at 6.93 per­cent. “There’s been re­ports that the gov­ern­ment could be close to an agree­ment with lenders, though this is yet to be con­firmed by the Greek gov­ern­ment; this is why the yields are fall­ing,” said DZ Bank strate­gist Daniel Lenz.

Bank of Cyprus said John Houri­can will re­main as its chief ex­ec­u­tive un­til the end of 2018, once again ex­tend­ing his stay. Houri­can, the for­mer head of in­vest­ment bank­ing at Royal Bank of Scot­land, had been due to leave Bank of Cyprus in Fe­bru­ary 2018 but said its board agreed on Tuesday to ex­tend his ap­point­ment.

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