LONDON (dpa-AFX) - Flutter Entertainment Plc (FLTR.L) reported Tuesday that its fiscal 2020 profit before tax plunged 99 percent to 1 million pounds from last year's 136 million pounds.
The latest profit was recorded after deduction of 432 million pounds in non-cash acquisition accounting adjustments.
Earnings per share fell 84 percent to 29.3 pence from 180.2 pence a year ago.
Adjusted earnings per share were 402.7 pence, compared to 298.4 pence last year. Pro forma adjusted earnings per share were 496.6 pence, compared to 415.7 pence last year.
Adjusted Group EBITDA grew 109 percent to 889 million pounds.
Group revenue grew 106 percent in 2020 to 4.40 billion pounds from last year's 2.14 billion pounds, reflecting the combination with TSG on May 5, 2020.
Proforma revenue increased 28 percent to 5.26 billion euros and adjusted EBITDA increased 16 percent to 1.23 billion euros.
Regarding the current trading, the company said that Group revenue climbed 36 percent in the first 7 weeks of the year to February 21.
The company said 2021 has seen a continuation of the strong momentum, and growth in player volumes remains encouraging across all divisions.
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