Olympics supplier Technogym core profit up 12.4% in first half
MILAN, Aug 2 (Reuters) -Core profit at Technogym TGYM.MI rose by 12.4% in the first half of the year ahead of the Paris 2024 Olympics, for which the fitness equipment maker is official supplier.
Adjusted earnings before interest, taxes, depreciation and amortisation after lease costs in the six months through the end of June came in at 66.7 million euros ($72.65 million) while sales rose by 8.7% to 402.1 million euros.
Shares in the Milan-listed company were up 5.5% by 1300 GMT, outperforming a 2% fall in Italy's all-share index .FTITLMS
Technogym said it expected it would further benefit in the medium term from the "unprecedented media exposure" at the current Olympics.
The company has equipped 29 training centres for the athletes to train prior and during the Games, including in the Olympic and Paralympic Village, according to a previous statement.
($1 = 0.9181 euros)
Reporting by Elvira Pollina, editing by Gianluca Semeraro
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