PCG Entertainment reports earnings increase in first quarter

20th Apr 2016 14:38

(ShareCast News) - PCG Entertainment reported an increase in revenue and earnings for the first quarter on Wednesday, though it was struggling to convince the market in afternoon trading.The AIM-traded Asia Pacific online gaming and media company said unaudited figures, extracted from its management accounts, showed the group's operating profit in the first quarter rose to $0.87m, from $0.82m in the previous quarter.Over the same period, PCG reported a 21% rise in gross profit and a 16% increase in revenue."While PCGE's revenues continue to grow quarter-on-quarter, the company is now able to invest in the development of our software distribution platform to expand the business in the Asian market," said CEO Nick Bryant."Over the coming months we anticipate further investment in people and infrastructure. We will also continue to seek opportunities for growth, both organic and through acquisitions."At 1410 BST, shares in PCG Entertainment were down 14.17% at 1.03p.