Blue Star Capital shares up on record revenue for Leaf Mobile

Blue Star Capital shares were in positive territory on Tuesday, after an update on its investee company Leaf Mobile.

The AIM-traded firm said the TSXV-listed Leaf has reported a “significant rise” in turnover from its mobile gaming portfolio for the first quarter, to CAD 5.6m (£3.32m) - an increase of more than 420% year-on-year.

Revenue growth was put down to the success of Leaf’s new mobile games, and stable revenue from its portfolio of legacy games.

The first quarter of 2020 represented the best first quarter in Leaf's trading history, the board said.

Blue Star made its investment in Leaf in April at a price of 16 Canadian cents per share, while the share price was currently trading at around 37 cents per share.

“We are pleased to see Leaf performing strongly and the successful launch of Leaf's new game, Cheech and Chong Bud Farm,” said chief executive officer Tony Fabrizi.

At 1350 BST, shares in Blue Star Capital were up 7.03% at 0.2p.