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08 Apr 2019 | 08:29

Keywords Studios profits jump as expanded offering bolsters revenue

Keywords Studios saw annual profits jump as the video games services provider's expanded range bolstered revenues. For 2018, profit before tax for the year was €22.1m, up from €12.0m and revenue increased by 66% to €250.8m. Adjusted profit before tax increased by 65% to €37.9m and adjusted basic earnings per share wsa up by 53% to 47.75 euro cents. 'The Group delivered a strong performance in 2018 as we increased our share of the growing video games market and expanded our range of services. This considerable progress has further improved our quality of earnings and moved us higher up the value chain with our customers,' said Andrew Day, Chief Executive of Keywords Studios. 'We have started 2019 promisingly, and we are seeing good overall demand for our services across the Group. We are actively reviewing acquisitions from which we will continue to be selective, with many businesses excited about the strong platform Keywords could potentially provide for their services and people.' 'This, combined with the likely increase in demand for content driven by the arrival of games subscription and streaming services from new entrants such as Apple and Google, give us confidence in the outcome for the full year.'

At 8:29am: (LON:KWS) Keywords Studios share price was -15.5p at 1304.5p

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