Nektan revenues boosted by strong B2B performance

(Sharecast News) - Gaming technology platform and services provider Nektan saw third-quarter revenues move ahead year-on-year thanks to a solid performance over at its business-to-business division.Nektan reported a 5.9% increase in sales to £5.4m for the quarter ended 31 March, with B2B revenues soaring 321% to £350,000.Business-to-consumer revenues were down 17.7% at £5.1m but Nektan anticipates an improvement in the unit during the fourth and final quarter of its trading year as a result of the continued growth and breadth of its casino network.Despite the fall in B2C revenues, the AIM-listed firm assured investors that its growth trajectory remained on track, with the group expecting to break even on the year as a whole.Chief executive Lucy Buckley said: "Q3 has been another record quarter of growth for our rapidly emerging B2B business. We continue to see strong demand for our award-winning casino technology as evidenced by the signing of 7 significant B2B partners during Q3 FY19."Having achieved EBITDA break-even in H1 of this financial year, a key achievement for Nektan, we remain on track to be break-even in FY19. As reported in our interim results announcement on 25 March 2019, whilst the headlines revenue figures are slightly down on Q2, our growing portfolio of partners means that we do not expect a repeat of what was a quiet period by historical standards."As of 1020 BST, Nektan shares had sunk 14.33% to 10.28p.