LONDON (Alliance News) - Mobile gaming platform company Nektan PLC on Wednesday reported a wider pretax loss for the first half of its financial year as revenue plunged following the termination of a contract.
Nektan said its pretax loss for the six months to the end of December was GBP3.9 million, compared to a GBP3.1 million loss a year earlier.
Revenue fell to GBP250,000 from GBP1.3 million in the half, due to the termination of a legacy revenue sharing agreement which had been place a year earlier. The contract was terminated in order to let Nektan focus on investing in its Evolve gaming platform.
Nektan said net gaming revenue from real money gaming increased to GBP115,000 in the half and said it has continued to invest in the Evolve platform in the period.
"Underpinned by our exceptional end-to-end mobile platform, Nektan is in a very strong position to exploit the exciting growth opportunities in the fastest-growing segment of online gaming in Europe as well as significant opportunities in the US," said Executive Chairman Gary Shaw.
Shares in Nektan were untraded Wednesday, having last traded at 197.95 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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