22nd Sep 2015 09:23
LONDON (Alliance News) - Keywords Studios PLC Tuesday said it anticipates it will meet its expectations for 2015, as it reported a rise in pretax profit for its first half, and raised its interim dividend.
Keywords provides technical services for the video games industry. It proposed an interim dividend of 0.40 pence, up from 0.36 pence a year before.
For the half year to end-June the company reported a pretax profit of EUR1.6 million, up from EUR35,988 a year before, as a rise in revenue to EUR23.9 from EUR13.7 million was partly offset by higher administrative costs. Keywords attributed its revenue growth to continued organic growth, contributions from its Alchemic Dream and Reverb businesses since they were acquired, and a full contribution from acquisitions it made in 2014.
The company said it made good progress with integrating acquisitions during its first half. The company expects higher levels of activity in its second half as publishers prepare games for launch in the pre-Christmas and Thanksgiving holiday period.
"The rhythm of game production and release schedules has returned to a more normal pattern following the disruption caused by the release of new games consoles in November 2013. As such, we are seeing a return to more traditional trading patterns in our audio, testing and localisation businesses. This, combined with the benefits of our recent acquisitions, organic investment and client wins leaves us well placed for the second half, with the outturn for the full year anticipated to be in-line with the board's expectations," said Chief Executive Andrew Day in a statement.
Shares in Keywords were up 4.7% at 190.00 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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