Net Ent reveal revenue rise

Entertainment have announced strong revenue growth for Q3 2011.

The Scandinavian suppliers saw operating revenues increase 21.7% year-on-year to SEK 111.4m (£10.9m), although the company’s operating profit for the period dropped slightly to SEK 34.01m (£3.32m) from the Q3 2010 figure of SEK 34.09m (£3.33m). However profit after tax was up SEK 0.91m to SEK 30.95m (£3.02m).

The quarter saw company CEO Johan Öhman leave his position, with former CEO of Net Entertainment Malta Ltd Björn Krantz taking over as Acting President and CEO.

Krantz said: “Taking on the position as Acting President and CEO of Net Entertainment during a strong quarter with several positive events has been very exciting and encouraging.

“We follow our strategic plan and continue to invest in operational and portfolio excellence, which will safeguard our competitive edge and long term profitable growth moving forward. I look forward to Net Entertainment’s future which holds great opportunities.”