Nektan celebrates successful first half

Nektan, a global platform and services provider, reported marked increases in revenue compared to the previous year. The last day of December saw revenue grow from £310,000 ($383,000) in 2018 to £797,000 in 2019 for the first half of this financial year, representing a 157% rise.

The group has reportedly reduced the adjusted underlying loss during the time, with EBITDA loss being reduced from £1.77 million to £1.65 million. Interim CEO Gary Shaw is hopeful about “EBITDA break-even by the end of this current financial year”.

He stated that “a strong pipeline of partner launches from leading global businesses to deliver their online gaming solutions” contributed to this success. It’s estimated that the sites will roll-out sometime in the near future, tentatively within the next two to three months. He added it will “significantly transform the revenue profile of the group”.

Like many similar companies, Nektan stated it feels the impact coronavirus has on the industry, namely that it created material uncertainty for the sector.

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