(Alliance News) - On Friday, the board of directors of Iervolino & Lady Bacardi Entertainment Spa reviewed and approved the group's final results for the first quarter to March 31, which closed with a net profit of EUR400,000 from EUR2.5 million in the same period a year earlier, as a result of lower Ebit but also due to the triple-digit increase in financial expenses associated with higher interest rates.

Revenues amounted to EUR29.6 million from EUR32.5 million in the same period a year earlier.

Ebit amounted to EUR1.5 million from EUR3.2 million as of March 31, 2023.

Net Debt Financial Position is stable at EUR40.2 million from December 31, 2023.

Iervolino and Lady Bacardi Entertainment's stock closed Friday in the red by 4.1 percent to EUR0.47 per share.

By Chiara Bruschi, Alliance News reporter

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