Netent Revenue up 32 percent

NETENT ENJOYS ANOTHER SUCCESSFUL HALF-YEAR
 
Online gambling software provider grew year-on-year revenue 32 percent.
 
The Swedish online gambling software provider NetEnt has posted another positive half-year result to end June 2016, reporting that revenue grew 32 percent year-on-year to SEK 697.4 million (GBP 61.1 million) and fourteen new  casinos were launched for clients.
 
The provider revealed that it currently has 31 new live, mobile and online projects for clients in the launch pipeline scheduled for release, and promising business projected for Europe, Asia and Latin America.
 
The companys H1 statement revealed that slot products deliver almost 88 percent of its revenues.
 
Operating profit for the six months was up 44 percent y-o-y at SEK 250.5 million, and the operating margin rose 3 percent to 36 percent in the period.
 
Profit after tax followed the upward trend, soaring 46 percent to SEK 235.2 million.
 
The UK continued to provide useful business to the provider, making a hefty contribution to its 21 new customer agreements inked during the first half of this year.
 
That being the case, CEO Per Eriksson wisely noted that it was still too early to predict the impact of Brexit, although in the short term currency fluctuations could have an impact, because NetEnt bills its UK clients in pounds sterling.
 
Eriksson commented in the update that the company has launched a beta version of its new live casino mobile product, which has been well received.
 
“Mobile gaming continues to be an important growth driver for us," he explained. "Revenues from mobile doubled compared to the same period last year and accounted for 37 percent of revenues in the second quarter.”