Despite seeing a decline in the number of first-time depositors, white label gaming software and services provider Nektan Plc. posted a 44.8 percent revenue growth in the third quarter of FY 2017-2018.

In a regulatory filing, the Gibraltar-based company reported that its revenue during the January-March 2018 period grew to £5.1 million ($7.2million) from a restated amount of £3.5million ($4.94 million) in the corresponding period last year.

Meanwhile, cash wagering was up 43.8 percent to £142.4 million ($200.78 million) from £99 million ($139.59 million) in the period.

Nektan Interim Chief Executive Gary Shaw said the company’s success in the third quarter of the fiscal year lies on its growing commercial and operational strength throughout international markets.