NAGA Group has released a preliminary trading update for April 2022 today and witnessed the strongest monthly profitability. For the mentioned period, the financial services provider posted revenue of EUR 7 million.
The EBITDA ratio jumped to almost 50% for the first time. NAGA highlighted strong growth across different segments in April 2022. The company noted that it saw significant improvement in customer satisfaction, team structure and product innovation.
"Already in the first four months of the current year 2022, we managed to exceed the revenue of the first half of 2021," Benjamin Bilski, the Founder and Chief Executive Officer of NAGA, evaluated the first 4 months. “At the start of the second quarter, we saw a solid comeback in trading activity. Our focus remains on increasing our growth activities to counteract any negative market trends. We are in line with our projections. Our confidence in the company is stronger than ever in these challenging times," he added.
The latest trading update and record numbers came on the back of a strong quarter for NAGA. Last month, the company published its financial results for the first quarter and witnessed a jump of approximately 63% in revenue.
Growth
According to the details shared by the company, the NAGAX NFT platform and its own blockchain NXNFT are now live. In a recent press release, NAGA outlined the positive impact of its branding initiatives. The company added that the growing level of brand awareness and brand power has strengthened its position across different regions.
“This year, we are experiencing very challenging market conditions and profitability, in particular, is an important factor that investors are looking for in 2022. At NAGA this is absolutely the case - we have generated positive cash flow as we have continued to successfully grow our business,” Bilski concluded.
