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Nacon: share price rises on reassuring annual results

( - Nacon, a specialist in video games, is well positioned on the Paris Bourse this Tuesday morning, in the wake of an earnings release deemed reassuring by analysts.

At around 10.40 a.m., the share price of the subsidiary of the Bigben group rose by 8.5%, returning to its highest level since March and posting one of the strongest gains on the Paris market.

For its 2023-24 financial year, from April 1, 2023 to March 31, 2024, the Group posted operating income of €20.9 million, an improvement of 20.5%.

Sales rose by 7.5% to €167.7 million, with a gross margin of 62.1%, an improvement of three points on the previous year.

Invest Securities' analysts commented: "The Group's annual results are rather reassuring, with good control of costs and working capital requirements (WCR)".

The research firm also mentions a "pleasant surprise" with the release of the new game "Test Drive Unlimited: Solar Crown" scheduled for September 12.

Looking ahead to the new 2024-25 financial year, Nacon said it was confident in its ability to generate further growth, accompanied by an increase in operating income.

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