Friday 20 September 2019

Keywords Studios hails 17pc revenue rise

Keywords Studios CEO Andrew Day
Keywords Studios CEO Andrew Day
Ellie Donnelly

Ellie Donnelly

The Dublin-headquartered Keywords Studios saw its like-for-like revenues increase 17pc to €146.4m in the first half of this year.

The performance was driven by "particularly strong" growth in its functional testing and game development service lines, which are now the largest and second-largest of its lines of business, the group said in a trading update.

Adjusted profit before tax is expected to increase by 15pc to around €18.4m for the six-month period, when the company releases its full interim results. So far this year, Keywords has made four acquisitions, which it said were "integrating well".

Announcing a new €140m revolving credit facility, the group said it continues to review a "strong pipeline" of acquisition opportunities.

The new facility is being provided by Barclays Bank, Citibank, HSBC and Silicon Valley Bank for an initial €100m over a three-year term, with the option to extend the facility up to €140m, and by a further two years.

It replaces the existing €105m facility, on the same terms.

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