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Revenues soar at PCG Entertainment despite customer dispute

The company claims it is owed US$2.2mln by a customer which, had it been paid, would’ve resulted in a swing to a profit
two people playing the xbox 360
CPDC is a gaming software and video games distributor

PCG Entertainment Plc (LON:PCGE) enjoyed a strong first half of the year and had it not been for a customer dispute, would have swung to a profit.

Interim revenues at the Asia-focused online gaming group rose to US$8.6mln (US$745,000), all of came from its Centre Point Development Corporation (CPDC) business acquired last summer.

There was a loss of US$746,000 after it was forced to write down a US$2.2mln disputed payment from a customer.

The board did add that it was still hopeful of reaching an “amicable solution” on the matter.

Losses were substantially below the US$2.5mln posted for the same period a year ago.

PCGE was still upbeat about the second half of 2016 and expects trading from CPDC to remain strong as it launches its own games management platform.

It also told investors that it is in talks with “potential sports and media projects” and will update investors on its progress with these discussions in the coming weeks and months. 

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PCG Entertainment Plc Timeline

Article
November 04 2016

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