Nektan reports unaudited results

Despite reducing losses in its Managed Gaming Solutions division, making good progress in the Europe and Asian regions and showing strong growth in total revenue, Nektan Plc reported adjusted EBITDA losses of GBP 1.6 million for the six month period ending December 31, 2017.

Key performance highlights for the six months ending December 31, 2017 include:

– Total revenue of GBP 8,8 million, up 54 percent (6M/Dec312016: GBP 5,7 million).

– Adjusted EBITDA loss* of GBP 1,6 million (6M/Dec312016: 1,5 million)

– Adjusted EBITDA loss* – Managed Gaming Solutions of – GBP 918,000 (6M/Dec312016: GBP 1,5 million)

– Operating loss of GBP 3,2 million (6M/Dec312016: GBP 512,000).

– Loss before taxation of GBP 4,2 million (6M/Dec312016: GBP 1,2 million).

– A loss in earnings per share of -12.6 pence (6M/Dec312016: 4.9 pence).

Gary Shaw, Interim Chief Executive Officer of Nektan, said:

“The European business continues to deliver strong trading momentum. We are developing our mobile first casino product, diversifying our portfolio of services to include additional B2B gaming solutions in Europe, US and now Asia.”

“I am particularly pleased that we are maintaining a central cost base to develop these revenue opportunities. We are expecting continued margin improvements, as our business partners develop new markets utilising our core technology platform, and to become a successful global technology supplier.”