Dublin-headquartered Keywords Studios is forecasting higher revenues and pretax profits than previously guided despite Covid constraints.
The London-listed video games specialist said it expects a 12 per cent hike in full-year turnover of €373 million with a profit before tax of €55 million, both ahead of guidance issued in late November.
The company had previously forecast revenues of €367 million and profits of €52 million for the year, as against €326.5 million in sales and €40.9 million in revenues a year earlier.
Keywords said it recorded a strong finish to the year, with robust demand for its services continuing in the second half. It said despite Covid production constraints that delayed the flow of some content it delivered good underlying margin improvement.
The company has made seven acquisitions since a £100 million placing in May at a combined cost of €92 million.
Net cash at the end of December was €100 million. This compares to net debt of €17.9 million in the prior year.
"The group has delivered another robust performance, delivering good organic growth despite the obvious challenges of Covid-19 across our global operations. This is testament to the dedication of our talented Keywordians, who have continued to provide our clients with the excellent service they have come to expect despite these challenging circumstances," said chief executive Andrew Day.
“With a robust and flexible model and a strong market position in the buoyant video games market, we look forward with confidence to continuing to deliver on our organic and acquisitive growth strategy.”
