Echo lifts full-year profit

Gaming giant expects FY14 earnings to be impacted by impact of regulatory changes.

Echo Entertainment Group (EGP) expects its fiscal 2014 earnings to be impacted by general macro-economic conditions, as well as regulatory changes, but posted an improved profit in fiscal 2013 in line with estimates.

In the year to June 30, full-year net profit excluding significant items $126.9 million, just below consensus forecasts for $129.1 million.

Echo's net profit was $83.5 million, a 97.9% increase on the $42.2 million in the previous year.

However, the group said the two year's were "not strictly comparable".

In the same period revenue was $1.78 billion, a 7.6% increase on the $1.62 billion in 2012.

The group's total dividend is six cents, fully-franked.

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