StockMarketWire.com - Video games services provider Keyword Studios said it expected adjusted profit for the first half of the of the year to jump 80% following a strong first-half performance amid a 'buoyant' video games market.

Adjusted pre-tax profit is expected to be approximately €40m, representing an increase of over 80% from €21.7m in the prior year, with revenue expected to rise 37% to approximately €238m.

'This strong first half performance was driven by robust demand for the Group's services, continuing the momentum seen in the second half of 2020, with the buoyant video games market focussed on developing new content to keep gamers engaged following increases in both numbers of gamers and gameplay during the pandemic,' the company said.

'Looking forward, we expect strong demand to continue across most service lines underpinning our confidence of delivering a performance that is at least in line with market expectations for the year, albeit with growth rates and margins expected to moderate against stronger H2 2020 comparatives, and as some costs return with the easing of restrictions,' it added.

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