Nektan set for narrower loss in the first-half as funding delays ease
Nektan expects a narrower loss in the first half, as higher earnings offset investment-related costs.
The B2B mobile gaming platform and content provider said that while it only expects a revenue of £0.5m, it expects its adjusted earnings before interest, taxation, depreciation and amortisation loss to top expectations at £5.5m.
Nektan attributes this to growing success in its key markets, with the delays in funding in the early part of the years firmly out of the way and unlikely to hamper revenue and investment in the second half and beyond.
"The combination of Nektan's mobile platform and leading HTML5 content continues to prove very attractive in our target European and US markets," said chief executive David Gosen.
"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," he added.