14th Apr 2015 09:08
LONDON (Alliance News) - Keywords Studios PLC Tuesday reported growth in profit and revenue in 2014 following a "quiet" games market in the first half of the year and despite games console title launches being delayed to the first quarter of 2015, as it benefited from acquisitions and global expansion.
Keywords Studios, which provides technical services to the global video games industry, reported pretax profit for the year ended December 31 of EUR3.4 million, up from EUR1.2 million in 2013. Revenue more than doubled to EUR37.3 million from EUR16.2 million.
Localisation testing operations, which accounted for 39% of group revenue, grew by 58% to EUR14.7 million from EUR9.3 million, including a contribution from the acquisition of Babel Media in February 2014.
Localisation translation activities, including contributions from Binari Sonori, which was acquired in May 2014, increased revenue to EUR12 million from EUR5.3 million and accounted for 32% of group revenue.
Audio activities multiplied to EUR5.1 million from EUR1.2 million, driven by the acquisitions of Liquid Violet and Binari Sinori in January and May 2014 respectively.
Art creation services was added to the company's range of services through the acquisition of Lakshya Digital in October 2014, adding revenue of EUR0.6 million in the last quarter.
Since the start of 2015, Keywords has acquired customer care services business Alchemic Dream and Brazilian localisation and audio business Reverb Localização, as well as opening an office in Barcelona in January.
It now has 14 studios in three continents and said it is reviewing opportunities to invest in China, having already invested in two business development resources and currently establishing a wholly foreign-owned enterprise in Shanghai.
Trading for the first three months of 2015 is in line with the company's expectations, Keywords said.
"We expect to benefit in 2015 from a more settled console games market, the full year effects of acquisitions made during 2014 and in early 2015 and continued growth both organically and through additional selective acquisitions particularly in newer services lines such as art outsourcing, as we further consolidate our market leadership. We, therefore, look forward with confidence to making further progress as we move through the current year and beyond," Chief Executive Andrew Day said in a statement.
The company will pay a dividend of 1.10 pence per share, up 10% from 1.00p last year.
Shares in Keywords were trading up 3.1% at 152.00 pence Tuesday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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