LONDON (Alliance News) - Business-to-business mobile gaming platform and content provider Nektan PLC on Monday said it expects its adjusted earnings loss to be slightly better than expected in the first half as it started to invest in the business again.
Nektan said it expects its net gaming revenue for the first half to be around GBP0.5 million, but expects its adjusted earnings before interest, taxation, depreciation and amortisation loss to be better than expected at around GBP5.5 million.
Nektan said it has made progress in its key markets in the first half, despite the delay it faced in securing additional funding earlier in the year. Nektan said this held back its rate of investment and revenue growth but said this has now started and should flow through in the second half.
"The combination of Nektan's mobile platform and leading HTML5 content continues to prove very attractive in our target European and US markets. Our strategy to penetrate both these markets remains unchanged and we are now prioritising higher margin Real Money Gaming as the growth engine to ensure the Group delivers profitable revenue growth and sustainable value to our shareholders," said David Gosen, Nektan's chief executive.
Nektan shares were untraded early Monday, having last traded at 167.00 pence.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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