(Alliance News) - Gaming Realms PLC on Tuesday tipped its 2020 performance to top market expectations.
The mobile games company said revenue in the six months ended June was 61% higher at GBP5 million from GBP3.1 million a year earlier. It swung to adjusted earnings before interest, tax, depreciation and amortisation of GBP1.2 million from a GBP100,000 loss.
"The performance in the period is a result of the expansion of our partners internationally and the release of new 'Slingo' games, which have had increased take up by consumers," Gaming Realms said.
"Whilst the revenue growth in the period was helped by the impact of Covid-19, trading during the seven weeks following the period end, which were post lockdown, have maintained similar levels seen during the period."
Gaming Realms said it expects revenue and Ebitda in 2020 to be "materially ahead of current market expectations".
The company said it will release interim results on September 8.
Shares in the company were 5.4% higher at 22.46 pence each in London on Tuesday morning.
By Eric Cunha; ericcunha@alliancenews.com
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Gaming Realms (GMR)