(Alliance News) - The board of directors of Iervolino & Lady Bacardi Entertaiment Spa on Friday reviewed and approved the draft financial statements for the year 2023, which closes with a net profit for the period of EUR4.7 million that shows an increase of EUR1.2 million compared to the net profit for the same period 2022 of EUR3.5 million.

The board proposed to allocate the profit for the period to an extraordinary reserve.

The period ended with total consolidated revenues of EUR172.6 million, up 7 percent from EUR161.0 million as of December 31, 2022.

Consolidated Ebit was EUR11.7 million from EUR20.8 million in FY2022, while Ebit net of nonrecurring charges reached EUR10.4 million, or 6.0% of revenues.

Net financial position debt stood at EUR39.3 million from EUR23.1 million as of Dec. 31, 2022.

ILBE closed Friday's session flat at EUR0.58 per share.

By Maurizio Carta, Alliance News reporter

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