Business Irish

Monday 24 June 2019

Dublin-based Keywords Studios sees organic revenue grow 10pc

Graphics created by Irish video-gaming company Keyword Studios
Graphics created by Irish video-gaming company Keyword Studios
Ellie Donnelly

Ellie Donnelly

Irish video-game company Keywords Studios has reported growth of 10pc year-on-year in its organic revenue.

In a full-year trading update for 2018, the company said it expects full year revenues to be "at least" €250m, up from €151.4m in 2017.

Adjusted profit before tax for the year is expected to be approximately €37.8m, in comparison to €23m in 2017.

The group’s performance has been aided by eight acquisitions made during the year.

It ended 2018 with net debt of €400,000, having ended the prior year with net cast of €11.1m, this was due in part to its €26.2m spend on acquisitions and deferred consideration during the year.

Meanwhile, adjusted earnings per share are expected to be around 47 cent, a 51pc increase on the prior year.

Andrew Day, chief executive of Keywords, said: "We are pleased with the group’s continued organic growth, in a year in which our markets were impacted by the Fortnite phenomenon."

"This together with the group’s successful acquisitive growth has seen us increase revenues and profit before tax by approximately 65pc in the year."

Almost all of the group’s seven service lines delivered a strong performance during the year, with particularly strong growth in Keywords’ player support and engineering businesses, the group said.

This helped partially offset a weaker than expected performance from localisation testing.

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