Nektan announced today that its first half revenue of its B2B division more than doubled versus previous year after its group restructuring programme.
In London, shares rose to 3.98 pence each – a 45 per cent jump – in the mobile gaming and casino technology company.
Earlier this month, Nektan sold its loss-making UK B2C division in order to focus on its B2B business.
Interim CEO Gary Shaw released in a statement:
“The restructuring represents an important milestone for Nektan. We can now focus on executing our strategy of becoming a dedicated casino technology and gaming content provider globally. These initial results support the directors’ decision to focus solely on B2B opportunities.”
In the six months to 31 December, 2019, Nektan’s B2B revenue was £787,000. The year before, Nektan’s B2B revenue was £311,000. In just December last year, Nektan’s B2B revenue was £225,000.
“The last few months have seen an intense period of activity culminating in now having 34 sites live. With the majority of these going live at the back end of the calendar year, combined with a 3 to 4 month ramp up period, we expect to report further significant revenue growth during the current quarter – early signs in January underpin this.”