Higher margin products drive Nektan 63% revenue jump
London-listed provider hails improving margins and increasingly international-focused business
Nektan has reported a 63% jump in Q1 net gaming revenue (NGR), hailing continued product improvements and the funnelling of customers to higher margin products.
Revenues for the three months to 31 March reached £3.7m, up from £2.2m a year ago, while total transaction (bets or spins) grew 235% to 132 million.
The company said its Managed Solutions business had pushed players toward higher margin casino products while also controlling operating costs, helping to grow the network and improve margins.
Elsewhere, the firm said its international push was progressing well, with its Respin subsidiary signing a major deal to provide an on-premise mobile casino for a tier-one US casino operator.
Nektan CEO Leigh Nissim said: “I’m encouraged by Nektan’s continuing improvements in trading and the continuing realignment of the company to a leading international gaming solutions and services provider.
“Nektan continues to make positive progress across our businesses in Europe and the US, powered by our proprietary core platform, Evolve, helping the company to strengthen its position as an international gaming provider, offering solutions and services that are fresh, high quality and tangibly different from other suppliers.”
Nektan shares were up 4.5% to 46.5p in early trading.