SBC News Nektan targets performance turnaround for H2 2016

Nektan targets performance turnaround for H2 2016

nissim
Leigh Nissim

Following a period of corporate restructuring, London AIM-listed mobile gambling software provider Nektan Plc is confident that it can reverse its financial performance in the second half of 2016.

Last week, Nektan governance provided a preliminary update on its H1 2016 performance detailing that it expected to post £4.2 million in net gaming revenues (H1 2015: £1.6 million). The company is further buoyed by a marked increase in player activity with +30,000 new depositors.

Nevertheless, industry analysts will be monitoring Nektan’s H1 2016 earnings results, seeing if the company can adjust its operating losses which saw it record full-year 2014 EBITDA -£5 million.

Following a turbulent six-month period for Nektan governance, which saw the executive departures of David Gosen (CEO) and David Sparks (CFO), the company enters H2 with a new leader in Leigh Nissim.

Nissim an industry veteran will be charged with leading Nektan to initial corporate profits as the company targets a 160% increase in net gaming revenues.

Heading into H2 2016, Nektan detailed that its operations were stronger than ever with company reaching 29 new partners in its network.

Furthermore, the company has introduced ‘Nektan Marketing Services’, with the aim of providing its partners with further efficient marketing operations helping sustain growth.

Chairman Jim Wilkinson commented on corporate progress

“The progress in the business this year is encouraging. Our focus on building the foundations for continued growth has been positive, with the Evolve 2 platform now established internationally and our business operations maturing as we expand. We plan to develop the business further across both Europe and the US as both mobile casino markets expand.”

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