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24 Jun 2019 | 09:22

Nektan to miss break-even target as regulatory pressure weighs

Online gambling services group Nektan warned that it would not reach its target of breaking even at the operating earnings level in its 2019 financial year.

A failure to reach the target would come as slower trends experienced in the third quarter continued into the fourth, driven, in part, by increasing UK regulations around player marketing and verification.

'In our B2C business, management has taken a number of actions in conjunction with the company's partners, that are delivering positive underlying results,' chief executive Lucy Buckley said.

'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 the first quarter of the 2020 financial year should see a return to quarter-on-quarter growth that has been delivered by the Company in nine out of the last twelve quarters.'

At 9:22am: (LON:NKTN) Nektan Plc share price was 0p at 10.25p

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