Keywords Studios H1 pre-tax profits almost double
Video game industry company Keywords Studios revealed on Wednesday that interim pre-tax profits had nearly doubled on the back of continued growth in revenues and cash generation.
Keywords said first-half revenues had surged 37.6% to €238.7m, driven by a 22.9% uptick in organic revenues and helping push adjusted pre-tax profits up 82.9% to €39.7m.
Adjusted underlying earnings and earnings per share were both 64.6% firmer at €50.7m and 41.57c, respectively.
The AIM-listed group's interim dividend was 0.70p per share after having opted not to pay one in 2020.
Keywords also highlighted that it had made four "high-quality acquisitions" so far n 2021, expanding its game development services, entering the Australian and Romanian markets, and adding "strong capabilities" for full game development.
Looking ahead, Keywords stated trading had started well in the second half, with strong demand for most services driven by a buoyant video games market and the industry's renewed focus on new content creation.
The company added that it was "confident" in delivering recently increased market expectations for the full year, with second-half growth rates moderating against a stronger comparative, as anticipated.
As of 1345 BST, Keywords shares were down 3.25% at 3,096.0p.