Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on NEKTAN PLC. We currently have 15 research reports from 5 professional analysts.
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01 Jul 16
Nektan today announces a pre-close trading update for the year ended 30 June 2016. Total net gaming revenue (NGR) increase by 160% over H116 to £4.2m, with player numbers similarly up, with total cash bets increasing by 129% to £104.1m versus £45.4m in H116. The number of first time depositors also increased by 77% to 30,997. While Nektan launched 29 new partners in to its network over the year, the migration of customer partners to the new Evolve 2 platform during Q416 caused some slowdown in growth due to downtime and testing of the new platform, and as a result, EBITDA is marginally below expectations. This is now fully operational and functional.
Respin JV receives approval for release of Class II Mobile Solution product
14 Jun 16
Nektan’s JV in the US, Respin, has received approval from the designated and independent test lab for release of its “Rapid Games” product, a Class II Mobile in-venue gaming solution. Class II compliance certification opens the way for tribal jurisdictions to start deploying this product, which will allow players to play Class II games on their own mobile device, within designated areas of casino property .
New CEO appointment
18 May 16
Nektan today announces the appointment of Leigh Nissim as CEO, who will take over from Gary Shaw who has been Interim CEO since January 2016. Gary will remain on the board and will be appointed Director of Strategy with effect from Leigh’s formal start date in late July 2016.
Funding the move forward
19 Apr 16
Nektan’s Q3 trading update shows revenues increasing rapidly, albeit from a much lower base than we hoped last year. We are reintroducing FY16 forecasts (EBITDA loss of £5.6m versus our October 2015 target of £0.2m profit) and will add FY17 in July. With Q316 revenue 115% higher than Q216 and following a cost efficiency programme, we believe that a positive EBITDA run rate is within sight. Nektan’s unconsolidated US JV Respin is also picking up steam and now has 54 signed contracts with casino operators. Nektan successfully completed a £2.93m fund-raising at the end of March to support its continuing growth.
N+1 Singer - Morning Song 30-11-2016
30 Nov 16
Sanderson has delivered full year results in line with expectations and the 19 October trading update after a strong finish to the year compensated for a slower start. A healthy level of pre-contracted recurring revenue (50%), incremental sales to existing customers and new customer wins at higher average order values helped deliver solid revenue growth in both the Digital Retail (+9%) and Enterprise (+12%) divisions. A decent order book and good sales momentum suggest that the company is on track to deliver on unchanged profit expectations for the current year. We continue to view the valuation (FY17 EV/EBITDA 8.6x) as undemanding given an attractive combination of accelerating growth potential, strong cash generation and growing dividends.
30 Nov 16
Abzena (ABZA): Interim results indicate happy customers (BUY) | Horizonte Minerals* (HZM): Fund raise completed (CORP) | SacOil* (SAC): Half-year trading statement (CORP) | Revolution Bars (RBG): New openings (BUY) | Amino Technologies* (AMO): Multi operator FUSION roll out (CORP)
N+1 Singer - Marston's - Delivering growth and standing out from the pack
30 Nov 16
Marston’s is our solitary positive stock pick in the sub-sector. Recent finals reflected a year of further strategic, LFL and earnings progress. We believe it is operationally in a strong shape to make further solid progress in FY17, not least as it does not have the acquisition integration or turnaround issues confronting GNK, MAB and RTN. Moreover, it is relatively better positioned to manage the cost headwinds. We forecast 11% TSR returns in FY17 and feel the shares with a 5.5% historical yield and 12% FCF yield (FY17e) are oversold. We are buyers with a revised 12m TP of 150p.
05 Dec 16
These interims show LPEs by is ahead of its plan to recruit 360 LPEs by April 2017 and is making impressive progress in Australia. The statement (and we expect the results presentation) provide considerable evidence of Purplebricks’ progress in building its brand, increasing its LPE footprint, developing its technology, creating engaging marketing and selling properties. We leave our forecasts unchanged. Investor confidence in Purplebricks’ ability to deliver sustainable profitable growth should result in share price appreciation towards a valuation based on its results for the year ended April 2019.