NetEnt interim report

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NetEnt has released its interim results for Q3 2016, announcing increases in revenue and profit across the quarter.

Revenues for the third quarter increased by 27.7 per cent to SEK357.4m, approximately US$40m. Operating profit amounted to SEK129.4m, an increase of 22.9 per cent, with profit after tax amounting to SEK119.2m, an increase of 22.2 per cent. Earnings per share amounted to SEK0.50 after dilution. Eleven new customer agreements were signed and eight new customers’ casinos were launched.

In the first nine months of 2016, revenues increased by 30.3 per cent to SEK1,054.8m. Operating profit amounted to SEK380m, an increase of 35.8 per cent, with profit after tax amounting to SEK354.5m, an increase of 37.2 per cent. Earnings per share amounted to SEK1.48m after dilution. Thirty-two new customer agreements were signed and 22 new customers’ casinos were launched.

Per Eriksson, president and chief executive officer of the company, said: “During the quarter, we launched our games in the regulated market in Romania and we rolled out our live casino product for mobile. The UK continues to be an important growth driver but the  weaker pound had an estimated negative effect of about three percentage points on revenue growth compared to the same quarter last year. Our ambition to achieve continued strong sales growth in 2016 remains.”

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