LONDON (ShareCast) - (Sharecast News) - Video games services firm Keywords Studios said on Thursday that interim revenues were up year-on-year, boosted by improved organic income.
Keywords said first-half revenues were up 13.3% at €173.5m, while organic revenue growth was up 8% on the prior year.

Adjusted underlying earnings were up 19% at €30.8m for the six months ended 30 June as demand remained strong for its services amid a robust trading performance in its largest service line, game development.

However, the AIM-listed group said margins had been "held back" by lower volumes than originally anticipated. Keywords did note it expects to see this return to more normalised levels as time passes.

Elsewhere, Keywords announced the bolt-on acquisition of Los Angeles-based technical specialist Heavy Iron Studios for $13.3m.

Keywords will make a $4.0m upfront cash payment for the business, with $500,000 to be paid on the first anniversary of the deal and a further $8.8m of contingent payments to be made depending on the company hitting certain performance targets over the first two years.

As of 1340 BST, Keywords shares were down 4.78% at 2,150.02p.

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