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Keywords Studios PLC - London-based technical services provider to global video games industry - Now expects revenue and adjusted profit before tax to be EUR373 million and EUR55 million, marginally ahead of the guidance issued in mid-November of about EUR367 million and about EUR52 million. In 2019, generated revenue of EUR326.5 million and adjusted profit of EUR40.9 million. On an organic basis, full year revenues are expected to increase by about 12%.
"This performance reflects a strong finish to the year with robust demand for the group's services continuing throughout the second half, albeit the previously stated Covid-19 production constraints continued to delay the flow of some content in certain service lines," company says.
It adds: "Despite these revenue constraints, Keywords delivered good underlying margin improvement, driven by operational leverage and good cost control, together with a reduction in certain costs due to Covid-19, such as travel."
Chief Executive Andrew Day says the firm's performance was "robust".
He adds: "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."
Current stock price: 2,767.00 pence
Year-to-date change: down 3.3%
By Paul McGowan; paulmcgowan@alliancenews.com
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