Keywords Studios profits up sharply on 'strong' growth from player support and engineering businesses

Writer, Stock Market Wire
Thursday, January 31, 2019 - 09:59

Keywords Studios, a video games services provider, said Thursday annual revenues and pre-tax profits rose sharply bolstered by 'strong' growth in its player support and engineering businesses.

The company said it expected full year revenues to be at least €250m for the year , up from €151.4m last year and adjusted profit before tax of approximately €37.8m, up from €23.0m.

Adjusted earnings per share were expected to come in at €0.47 , which would represent an increase of 51% from a year earlier.

During the year, the group acquired eight businesses, and the ended the year with net debt of €0.4m, compared with net cash of €11.1m a year earlier.

'We are pleased with the Group's continued organic growth, in a year in which our markets were impacted by the Fortnite phenomenon. This together with the Group's successful acquisitive growth has seen us increase revenues and profit before tax by approximately 65% in the year,' the company said.

'Particularly exciting for us during the year has been our expansion into new areas including predictive analytics, music services, marketing services, sound design, and Hollywood-based voice production and writing services. Our eight acquisitions in the year are bedding down and performing well.'

At 9:59am: (LON:KWS) Keywords Studios share price was +110p at 1190p

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