JPJ Group PLC on Tuesday said it swung to profit in 2018 helped by strong performance of its Vera & John unit.

The stock was trading 4.3% higher on Tuesday at 702.00 pence each.

The online bingo operator said it swung to a profit of GBP18.1 million in 2018 from GBP70.7 million loss a year earlier, as gaming revenue climbed by 10% to GBP319.6 million from GBP289.3 million.

Gaming revenue in the Jackpotjoy unit was flat on the prior year due to the impact of enhanced responsible gambling measures and the closure of a small number of high-value accounts.

Meanwhile, revenue in the Vera & John unit – which operates on its own proprietary technology platform – jumped by 42%.

Average active customers per month grew 4% to 259,664 in 2018, while average real money gaming revenue per month increased by 10% to GBP26.0 million. Monthly real money gaming revenue per average active customer totalled GBP100, up 6% year-on-year.

“I am pleased with the progress we have made in 2018 as JPJ Group continued to deliver on its strategy,” said Executive Chair Neil Goulden.

Looking ahead, the company said trading over the first two months of 2019 has been strong with double digit growth in revenue.

“Overall, we look forward to continued progress in our international operations and to taking advantage of growth opportunities in the UK market during the second half of 2019,” added Goulden.