Catena Media sales up 104% in Q1 2017
Swedish-listed iGaming affiliate network Catena Media has revealed record year-on-year sales growth of 104% for the first quarter of 2017.
The company reported sales figures of €15.23m (£13m) for the first four months of the year.
Its operating profits reflect these increased sales, jumping 108% year-on-year from €3.18m in Q1 2016 to €6.64m in Q1 2017.
New depositing customer figures increased from 32,321 in the first quarter of 2016 to an all-time high of 80,421 in Q1 2017, a year-on-year rise of 142%.
The period has seen significant changes at Catena, with the appointment of a new COO and CFO in January. It also made high profile acquisitions of casino affiliate Slotsia.com in February and UK based sports betting affiliate Online Media earlier this month.
In a statement accompanying the results, Chief Executive of Catena Media Robert Andersson said: “The first quarter of the year is seasonally strong and we are pleased to note stable growth numbers in our existing assets.”
He added: “The fast pace of growth has also given us a delicate problem of outgrowing our office space in London, Malta and Serbia. We have therefore moved our offices in London and Serbia during the first quarter and will move in Malta during the third quarter. We have also expanded our efforts in Budapest where we have our outsourced technology teams.”
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