24th Nov 2020 11:26
(Alliance News) - Keywords Studios PLC said Tuesday its full-year adjusted pretax profit was "significantly" ahead of current market consensus due to continued strong trading in its second half.
Revenue for 2020 is expected to be in line with company compiled consensus of EUR367 million, versus EUR326.5 million in 2019, which the Dublin-based IT service management company said reflects robust demand for its services despite previously stated Covid-19 production constraints.
Adjusted pretax profit is expected to be "significantly" ahead of the EUR46 million consensus, Keywords said, at EUR52 million. In 2019, the firm recorded adjusted pretax profit of EUR40.9 million.
"This reflects good underlying margin improvement, despite the revenue constraints noted above, driven by operational leverage and good cost control, together with a reduction in certain costs due to Covid-19, such as travel," the company added.
Chief Executive Andrew Day said: "We are pleased the group is delivering such a robust performance, with continued organic growth and underlying margin improvement, despite the production constraints in some parts of the business."
Shares in Keywords Studios were 3.5% higher in London on Tuesday at 2,188.00 pence each.
By Paul McGowan; [email protected]
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