Stride Gaming says trading is ahead of expectations

22nd Jun 2015 13:51

Shares in Stride Gaming were up on Monday after saying its second-half trading is ahead of previous forecasts.The bingo-led online operator said its trading during the second half of the year is ahead of management expectations thanks to the strong organic growth of its business.Earnings before interest, taxes, depreciation, and amortization for the full-year is expected to be not less than £7m.The group, which was admitted to AIM in an initial public offering last month, said at the time it expects to take advantage of the consolidation in the online bingo sector, as it believes there are significant acquisition opportunities driven by regulatory and taxation changes."Going forward, we intend to develop our proprietary software and in-house platform, expand into other regulated markets, push into the fast-growing mobile bingo sector and expand into complementary verticals," non-executive chairman Nigel Payne said it the time of Stride's first-half results.Shares were up 3% to 202.5p on Monday at 13:52.