Nektan Revenues Rise 48% in First Half

Gaming firm Nektan has posted their first half financial results, revealing that revenues were up 48% during the period.

Key financial indicators for the half ending December 31st, 2018 were:

• Revenues up 48% to £13 million
• B2C white label customer stakes up 36% to £346.2 million
• First-time depositors flat at 75,334
• Cost of sales up 47.2% to £4.5 million
• Gross profit up 48.1% to £8.5 million
• Marketing, partner, and affiliate costs of £6.1 million
• Administrative expenses of £2.1 million
• EBITDA of £336,000, up from a loss of £916,000 during last year
• Operating loss of £201,000, and improvement from the £1.9 million operating loss last year

Commenting on the results Nektan CEO Lucy Buckley said, "Having signed some significant partnerships during the period, we are increasingly being seen as a major mobile and online casino technology business, providing premium gaming content from some of the best game developers in the world to some of the biggest gaming brands globally."

"Achieving EBITDA break-even during the period is a key milestone for Nektan and our key focus for the remainder of FY19 is on maintaining and improving profitability."