Key phrases Studios nearly doubles its earnings for the primary half to £33.9m because the pandemic fuels a requirement for video video games
- The Irish technical companies supplier boasts Google and Netflix amongst its purchasers
- Group income for the six months to 30 June additionally jumped to £204.1m
- It expects a robust demand to proceed by means of into the second half
Key phrases Studios has revealed that it nearly doubled its earnings for the primary half of the yr because of a booming demand for video video games through the pandemic.
The Irish technical companies supplier, which boasts Nintendo, Netflix and Google amongst its purchasers, reported pre tax earnings of £33.9 million (€39.7 million), up from £18.5 million (€21.7 million) throughout the identical interval in 2020.
Group income for the six months to 30 June additionally jumped to £204.1 million (€238.7 million), up from £148.3 million (€173.5 million), marking a 37.6 per cent enhance.
Key phrases Studios has revealed that it nearly doubled its earnings for the primary half of the yr because of a booming demand for video video games through the pandemic
Transferring into the second half of the yr, Key phrases Studios says buying and selling has ‘began nicely’, with robust demand for many of its companies pushed by the buoyant video video games market.
The persevering with pattern means it’s on observe to ship the not too long ago raised market expectations for the complete yr and it declared an interim dividend of 0.7 pence a share.
This represents a rise of 20.7 per cent from the 2019 interim dividend. There was no interim dividend in 2020.
The London-listed agency additionally famous in its buying and selling report that following the retirement in June 2021 of CEO Andrew Day the search course of for his successor is ‘very nicely superior’ with an additional announcement anticipated within the coming weeks.
The group continues to drive its technique ahead with Jon Hauck, CFO, and Sonia Sedler, COO, as joint interim CEOs, supported by the broader management staff
Commenting on the half yr outcomes, Jon Hauck, Key phrases Studios’ CFO and joint interim mentioned: ‘The Group has delivered one other robust efficiency and we’re seeing ongoing excessive ranges of demand for our companies, pushed by a buoyant wider video video games market which has a renewed give attention to content material creation.
‘We’ve got continued our acquisition technique which is constructing the group into the ‘go to’ service supplier globally.
‘Wanting ahead, we anticipate the robust demand to proceed, giving us confidence in delivering a full yr efficiency consistent with not too long ago elevated market expectations, and our monetary energy leaves us nicely positioned to proceed to enrich natural development with value-accretive acquisitions.’
Established in 1998, and now with over 70 services in 23 international locations, Key phrases Studios gives a spread of companies together with built-in artwork creation, advertising companies, recreation growth and participant assist companies.
The corporate has a robust market place, offering companies to 23 of the highest 25 most distinguished video games firms.