Nektan hits half-year jackpot

AIM-listed digital gaming firm Nektan (LON:NKTN) saw its shares shoot upwards by 44.73% to 3.98p (as of 9:15 GMT) as revenues for the six months ended 31st December grew by 102%. Management expect this growth to continue as more sites go live in multiple international markets.

Interim CEO Gary Shaw commented: “The restructuring represents an important milestone for Nektan. We can now focus on executing our strategy of becoming a dedicated casino technology and gaming content provider globally. These initial results support the Directors’ decision to focus solely on B2B opportunities.

“Trading for the six months to 31 December 2019 saw the Group achieving more than double the revenues for the same period last year. The last few months have seen an intense period of activity culminating in now having 34 sites live. With the majority of these going live at the back end of the calendar year, combined with a 3-4 month ramp up period, we expect to report further significant revenue growth during the current quarter (Q3 2020) – early signs in January underpin this. As a result, the Group continues to anticipate reaching monthly EBITDA break-even by the end of this financial year“.