PCG Entertainment said its 3Q group revenue soared helped by growth in the Chinese media and games market.
The AIM-listed online gaming and media company said unaudited figures showed revenue of $6 million in the quarter, up from just $1,112 in the prior year. The company had an operating profit of $400,000, swinging from a loss of $2.22 million.
PCG bought Center Point Development Corporation (CPDC), distributors of gaming software and services in Asia for $10 million in June 2015.
“These results demonstrate the effectiveness of the group strategy in expanding in the Chinese media and games market both through organic growth and by acquisition,” said Nick Bryant, CEO.
PCG is focused on the development of business in the media and gaming industry across the Asia-Pacific region. It aims to continue growth through further acquisition and exploitation of licenses in China, and the acquisition of CPDC represents an important first step in the process.