Although we expected strong growth in H219, FY19 revenue of €326m, reflecting 30% overall growth and 15% organic growth, represents a sparkling performance. EBITDA and PBT were ahead of forecast at €49.5m and €41.0m, respectively. Given the higher revenue base, we are revising our FY20 revenue estimate up by 4%, but prudently holding operating profit and PBT at previous levels as margins normalise through FY20. We retain our view that Keywords remains strongly positioned as the only
games servi ....
30 Jan 2020
Sparkling growth, improving margins
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Sparkling growth, improving margins
Keywords Studios plc (KWS:LON) | 1,304 0 0.0% | Mkt Cap: 1,036m
- Published:
30 Jan 2020 -
Author:
Richard Williamson -
Pages:
4
Although we expected strong growth in H219, FY19 revenue of €326m, reflecting 30% overall growth and 15% organic growth, represents a sparkling performance. EBITDA and PBT were ahead of forecast at €49.5m and €41.0m, respectively. Given the higher revenue base, we are revising our FY20 revenue estimate up by 4%, but prudently holding operating profit and PBT at previous levels as margins normalise through FY20. We retain our view that Keywords remains strongly positioned as the only
games servi ....