Nektan PLC Trading Update (1099D)
24 Junio 2019 - 1:01AM
UK Regulatory
TIDMNKTN
RNS Number : 1099D
Nektan PLC
24 June 2019
24 June 2019
NEKTAN PLC
("Nektan", or the "Company")
Trading Update
Nektan plc (AIM: NKTN), the fast growing, award-winning
international gaming technology platform and services provider,
announces a pre-close trading update in relation to its financial
year ending 30 June 2019 ("FY19").
The Board expects the Company to deliver year-on-year, double
digit revenue growth and a significantly reduced EBITDA loss in
FY19 compared to the previous year. The Group's target of achieving
EBITDA breakeven in FY19 will not be achieved due to the slower
trends experienced in Q3 continuing into Q4 with a number of
factors impacting first time deposits and deposits, including the
continued effect of increasing UK regulations around player
marketing and verification.
Lucy Buckley, Chief Executive Officer of Nektan, said:
"In our B2C business, management has taken a number of actions
in conjunction with the Company's partners, that are delivering
positive underlying results. We expect this to translate into
better performance including increased margins. This, combined with
a pipeline of new partners and product launches, underpins the
Board's confidence that Q1 FY20 should see a return to
quarter-on-quarter growth that has been delivered by the Company in
nine out of the last twelve quarters.
Nektan's B2B business continues to make exciting progress; our
pipeline of opportunities is continuing to develop and has seen
engagement with an increasing number of larger market participants
globally. We expect a number of these to go live during the
remainder of 2019, which has the scope to have a transformational
impact on our business.
We continue to focus on moving to profitability and look forward
to providing a more detailed update in our Q4 FY19 trading
announcement in July 2019."
For further information, please contact:
Nektan
Lucy Buckley, Chief Executive Officer
Gary Shaw, Executive Officer +44 20 3463 8735
Stockdale Securities Limited (Nominated Adviser
and Joint Broker)
Tom Griffiths / David Coaten +44 20 7601 6100
Smaller Company Capital Limited (Joint Broker)
Rupert Williams / Jeremy Woodgate +44 20 3651 2911
Nominis Advisory (PR Adviser) +44 7 881 625 098
Angus Campbell Email: angus@nominis.co
Further information on Nektan can be found at
www.nektan.com.
About Nektan:
Nektan is a fast growing, international gaming technology and
services provider, specialising in mobile casino. It licenses its
proprietary technology to leading operators including BetVictor and
provides end-to-end technology and white label casino services for
leading brands including News International's, The Sun Play.
Nektan's full end-to-end technology platform, Evolve, enables
the management of the full customer experience and back-office
operations, allowing partners to focus on marketing the product to
their consumers.
The E-Lite platform is Nektan's B2B gaming content aggregator
and bonusing platform that delivers a wide range of premium content
from the world's leading game studios. It is an easily-integrated
add on module for operators, giving them an array of options and
flexibility on how they manage and distribute a breadth of premium
gaming content across their networks.
Nektan has a material stake in US-based interactive gaming
operator Rapid Games, which provides US land-based casinos with an
in-venue mobile gaming solution. It allows operators to add mobile
technology and content making products accessible to players across
both cabinets and mobile devices inside casinos.
Headquartered in Gibraltar, Nektan is regulated by the Gibraltar
Licensing Authority, the UK Gambling Commission and the Information
Commissioners Office. As a socially responsible license holder,
Nektan endeavours to deliver a safe, secure and robust player
gaming experience.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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