Company keywords studios jumping 72pc

  • Company keywords studios jumping 72pc
    Independent.t. E.
    Irish video game company keywords studios has reported a 72pc increase in its revenues to €110m in the six months to June 30.
    https://www.independent.ie/business/irish/revenue-at-keywords-studios-jumps-72pc-37181556.html
    https://www.independent.ie/business/article37147041.ece/76e11/AUTOCROP/h342/2018-07-24_bus_42718380_I1.JPG

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Irish video game company keywords studios has reported a 72pc increase in its revenues to €110m in the six months to June 30.

Adjusted profit before tax is expected to amount to €16 million for the six months, according to a trading update from the group.

The result is especially important to give the weakening of the U.S. dollar, which has about 60pc of the group’s revenues are denominated.

  • Read more: keyword acquisitions top 14 million Euro with the third transaction

Key words stated that the 11 acquisitions made during 2017, as well as seven acquisitions made since the beginning of 2018 all “in line with expectations”.

In addition, the group said its largest acquisition to date, single, completed in October last year, was successfully integrated with the rest of the group.

With the beginning of the year keywords has invested about 10 million euros in the acquisition.

And acquisitions, looks set to continue with the group is “actively considering” a range of possibilities of acquisition in accordance with the acquisition strategy.

Keywords will Fund the acquisition through a combination of new €105m loan with Barclays and lloyds and HSBC, continuing strong cash generation, and the use of keywords is divided into part-Fund acquisitions, if needed.

“With the advantages of a full six months contribution from first half acquisitions, the strengthening of the dollar, a healthy pipeline of activity and improved capacity to delivery, we expect a strong second half performance in line with current market expectations for the whole year,” Andrew day, CEO of keywords, they say.

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