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NEWS 21 October 2016

NetEnt points to sustainability and innovation as it records a positive Q3

By Tom Lewis
NetEnt has hailed the impact of its growth strategy as it reported a 27.7% rise in revenue for Q3, up to SEK 357.4m.

The industry supplier also posted a 22.9% year-on-year increase in operating profit, climbing to a total of SEK 129.4m, while the firm’s operating margin grew by 37.6% to 36.2.

Profit after tax also grew at a similar rate, rising 22.2% to SEK 119.2m.

NetEnt’s strong third quarter results have fuelled positive year-to-date performance, with revenue across the first nine months of 2016 standing at just under SEK 1.1bn, a rise of 30.3% over the same period in 2015.

Per Eriksson, President and CEO of NetEnt, said: “NetEnt’s growth strategy keeps delivering results – we grow on new markets, with new products and with more customers.

“During the quarter we launched our games on the regulated market in Romania and we rolled out or 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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