LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price on 'buy' rated software publisher Gaming Realms from 50.0p to 57.0p on Monday, stating it was "well-placed" for FY25 following "another record year".
Canaccord Genuity said Gaming Realms had made further strong progress delivering another record performance in FY24, with strong growth in both revenues and adjusted underlying earnings as growth was once again driven by its core licensing division.

The Canadian bank stated that "considerable financial and operational progress" has been made over the last six years, which has seen Gaming Realms become "a high margin, cash-generating, global licensed content developer", moving from a small adjusted underlying loss of £300,000 in FY19 to deliver over £13.m in FY24.

"The positive start to the year, coupled with further content and market launches planned across the remainder of FY25E, gives us confidence that our forecasts look well underpinned and so we leave headline revenue and profit forecasts unchanged," said Canaccord. "We expect FY25E to show another year of strong progress driven by further game launches and additional partner distribution agreements."

Canaccord also noted that with its cash balance building, along with management's confidence in the strategy and business model, Gaming Realms has launched an initial £6.0m share buyback programme.





Reporting by Iain Gilbert at Sharecast.com

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