15th Oct 2015 08:18
LONDON (Alliance News) - Nektan PLC on Thursday said its pretax loss widened in its recently completed financial year, although the business-to-business mobile gaming provider heralded its "considerable" operational progress in the year as it signed new clients and attracted "impressive" levels of interest from US casinos.
Pretax losses amounted to GBP8.1 million in the year ended June 30, compared with the GBP5.7 million pretax loss recorded in the prior year. Adjusted EBITDA, which excludes listing costs, exchange differences, and non-cash charges relating to share-based payments, showed a GBP5.1 million loss against the prior year's GBP3.5 million loss.
The earnings marked a first set of full-year results since Nektan's initial public offering in November 2014, when it raised GBP4.1 million. The shares were down 2.4% at 145.00 pence on Thursday morning.
Chief Executive David Gosen said the company continues to see "strong quarterly growth in Europe across all key performance indicators and strong momentum in the US, through Respin, our US joint venture".
"We remain confident in our outlook for the full year and beyond as Nektan continues to strengthen its position and to deliver strong momentum in our key markets in Europe and the US," Gosen said.
By Samuel Agini; [email protected]; @samuelagini
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