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Nakama Group plc Has Announced Its Interim Results

Nakama Group plc Has Announced Its Interim Results

Highlights

&middot Revenue grew by 81% to &pound8.64m (2011: &pound4.78m), primarily reflecting additional revenue following the acquisition of Nakama in Oct 2011

&middot EBITDA before exceptional items increased to &pound191,411 (2011:156,080)

&middot Net fee income (NFI) rose by 134% to &pound2,078,782,(2011: &pound887,000)

&middot NFI percentage increased to 24% (2011: 18.6%)

&middot Net profit decreased to &pound11,000 (2011: &pound152,000)

&middot New offices opened in Singapore and Munich with the Singapore office being profitable in the year to date and performing well and the recently opened Munich office expected to make a contribution next year

&middot The half year outcome has been substantially reduced by &pound120,000 relating to significant mismanagement and misappropriation of funds in our Hong Kong office. All other Nakama offices were profitable.

Stefan Ciecierski, CEO of Nakama, commented: "We report on our interim results to 30 September 2012, which have shown encouraging resilience, in the face of a tough market and with the disruption following our acquisition last year and of our continuing group integration. Activity in our UK markets has held firm and provides us with a continuingly strong platform. Our overseas offices have grown organically and I am pleased to report the opening of our two new offices in Singapore and Munich."

"Whilst events regarding the Hong Kong office have impacted upon the group's performance, we continue to make good progress elsewhere and we now move into the second half of the year with a solid platform on which to continue to develop the enlarged Group. Nakama's international presence has helped retain and develop relationships with many blue chip global digital companies and we remain well positioned to take advantage of an upturn in the UK."

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