NetEnt after-tax profits jump 46% in H1

Online gambling technology supplier NetEnt said revenue rose nearly one-third during the first half of 2016.

In a trading statement issued on Thursday, the Stockholm-based NetEnt announced that its revenue during the first six months of 2016 had risen 31.7% to SEK 697.4m (US $82.3m) while profit after tax was up 46.3% to SEK 235m ($27.7m).

Second quarter figures were equally impressive, with revenue up 30% to SEK 352m and margins improving to 34.8%. NetEnt CEO Per Eriksson said Q2 had featured “strong demand for our products” and said all indications suggested “continued strong growth” for the rest of the year.

The company inked 12 new customer agreements in Q2, including a major deal with UK gaming operator Rank Group to supply online casino games to Rank’s Grosvenor Casinos and Mecca brands. NetEnt also launched its products with six new clients in Q2.