Nektan forecasts better-than-expected full-year results

Nektan has announced that it expects to post better-than-expected results for the 12-month period through to June 30, 2015.

In a trading update, the B2B mobile gaming platform provider said that revenue for the period is expected to be approximately £500,000 (€719,200/$779,000).

Meanwhile, adjusted earnings before interest, tax, depreciation and amortisation loss should be approximately £5.5 million for the period, better than the figure initially forecast by the company.

Nektan has cited tight management of fixed cost base as one of the main reasons behind this figure.

The company also highlighted the progress it made within its target European and US markets during the period, despite a delay in securing additional funding to support its growth initiatives.

David Gosen, chief executive of Nektan, said: “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.”

Nektan is due to publish its preliminary full-year results for the 12-month period in September.

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