Leaps after Q3 satisfactory

The French casino operator Groupe Partouche, who made quite a comeback after a loss of more than 10 million euros in the first half of 2009, said Tuesday night after closing an increase of 14.7% its sales for the third quarter of 2009-2010. The CA on the cumulative nine months came out at 360.9 million euros, up 9.4% over the same period last year.

Following the capital increase announced last July, the group's balance sheet situation is much improved with the reduction of debt Financière Partouche up to 74.6 million euros and operating profit of the group is reinforced by the improvement in activity recorded in the third quarter, management said.

The increase in turnover during the third quarter due to the contribution of casinos (16.8 M €). Indeed, Gross gaming casinos French group (PBJ) rose € 9.8 million during the third quarter, up 6.7% excluding the contribution of casino Palais de la Mediterranee in Nice, growth on a comparable basis to 6.3 million € (+4.3%).
It is further recalled that the figure for the fourth quarter 2009 was positively influenced by the application of the new levy structure with catch-up effect on the exercise, which had resulted in a saving of 9 samples , 8 M €.

This is the first quarter to positive developments in the PBJ for two and a half years of consecutive declines. Aided by the evolution of the levy mentioned above, the Net Gaming Casino Group rose by € 11.3 million, and other casino operations also rose (+5.5 M €), including Cannes and Divonne-les-Bains.

"The accounts for 2010 and 2011 will be correct, because the benefit of tax relief, which can support the track throughout the coming months," said CM-CIC Wednesday.
In Paris, the Action Group Partouche jumped 5.3% to 2.19 euros in thick volumes of 583 thousand pieces exchanged.