The revenues increase by 66% at Keywords Studios as the group turns to 2019 with "confidence"

The business figure of Keywords Studios, a UK-based video gaming company but listed in Ireland, grew by 66% in 2018, the company benefiting from a strong demand for its services and a growing share of its markets. The company highlighted an "encouraging" start for 2019, but noted that "the Fortnite effect" had weighed on growth in 2018.

As of December 31, 2018, revenue was up 66% to 250.8 million euros, pre-tax profit almost doubling to reach 22 million euros. The group had a net debt of 0.4 million euros at the end of the year and declared that it will pay a final dividend of 1.08p, against 0.98p in 2017, which which means that its total dividend should increase by 10% to 1.61p. per share. However, the growth in the group's profits was hampered by some project postponements up to 2019 and unrecoverable receivables of around € 1.6 million for four bankrupt customers, some of which were due to Fortnite effect.

The game, which has been a phenomenal success and on which also works Keywords Studios, attracted some 200 million players last year, which disrupted other games supported by Keywords Studios and saw some producers to reduce their expenses in terms of support games, or remove them completely.

Overall, Andrew Day, General Manager of Keywords Studios, said the group's strong performance was due to an increase in its share of the growing video game market and an expanded range of services.

"This significant progress has further improved the quality of our results and brought us closer to the value chain with our customers," he said, adding that the group was experiencing "good overall demand" for its services. since the beginning of the year.

"We are actively looking at acquisitions where we will continue to be selective, with many companies excited about the strong platform that keywords could potentially provide for their services and people."

Day said the likely increase in content demand, coupled with the arrival of new game subscribers and streaming services from new entrants such as Apple and Google, "gives us confidence in the results of the year".

The technical service provider for the global video game industry was founded in 1998 and now has more than 50 installations in 21 countries in Asia, the Americas and Europe. It provides services to 23 of the 25 largest video game companies, including Activision Blizzard, Electronic Arts and Konami.