DoValue Q2 revenue, net profit drop on dent in Spanish market

(Reuters) - DoValue, Italy's biggest debt recovery firm, on Wednesday reported a double-digit drop in first-half net revenue due to poor performances in Iberia and at home that were only partially offset by a relatively more resilient result in the Hellenic region.

DoValue net revenue in the first six months of the year fell 12.6% year on year to 208 million euros ($227.80 million) mainly due to negative factors from the Iberian market, such as the Sareb Portfolio off-boarding and the impact of a court strike, as well as slower activities in Italy, it said in a note.

First-half net profit excluding non-recurring item shrunk 28% to 16.6 million euros and gross book to value plunged 22%.

($1 = 0.9131 euros)

(Reporting by Alberto Chiumento; Editing by Mark Porter)