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Keywords Studios profits jump on the back of gaming localisation acquisitions

Sharecast

LONDON (ShareCast) - Keywords Studios (LSE: KWS.L - news) , a technical services provider to the global video games industry, more than doubled revenues last year thanks to a strong portfolio of new acquisitions. Revenues jumped 130% to €37.3m, while profits were up 197% to €3.1m, which led earnings per share to more than double from 2.14c to 4.94c.

Despite a reduction in volume from a major client, localisation testing operations grew by 58% to €14.66m, while translation activities revenues increased by 125% to €11.97m.

The acquisition of Soho-based gaming voiceover provider Liquid Violet and Japanese gaming localisation rival Binari Sinori drove its audio division revenues soaring from €1.23m to €5.08m.

The company is confident that the use of smartphones as gaming platforms and more powerful processors and larger storage capabilities in next generation consoles will help the division to grow.

Chief executive Andrew Day said: "The games market has gone through a transitional period over the past two years, but with the installed base for the new generation of consoles having reached what many believe to be the tipping point following the 2014 holiday season, 2015 is expected to be the first solid, post transition year in the console game sector." Analysts at the company's broker Numis said: "We think these results are a clear demonstration of the longer term potential for Keywords, and see the shares as significantly undervalued." Shares (Berlin: DI6.BE - news) were up 3.05% to 152p on Tuesday at 10:38.