Keywords Studios PLC on Tuesday said organic revenue growth for the half-year slowed down, but overall revenue rose thanks to its recent acquisitions.

Keywords is a Dublin-based provider of technical and creative services for video game production. Its shares fell by 8.9% at 1,606.00 pence each in London on Tuesday at about midday.

Keywords said in the six months to June 30, revenue grew by 19% to €383 million from €321 million a year prior. This was driven by four acquisitions which were completed for a total consideration of around €130 million.

The acquisitions include Vancouver, Canada-based video game development studio Smoking Gun Interactive Inc, digital support company Helpshift Inc, Milan-based public relations and communications agency, Laboratorio Comunicazione Srl and California-based social media agency, Digital Media Management Inc.

However, organic revenue slowed down to 10% from 22% in 2022. Keywords noted that it remains in line with its medium-term guidance.

Looking ahead, Keywords expects its adjusted operating margins to remain at 15% for the full year.

Chief Executive Officer Bertrand Bodson said: ‘We are uniquely placed to capture the opportunities that technology advancement will create over time as it increases the bounds of possibility, leading to a proliferation of ever improving content as our clients seek to engage the three billion gamers globally.

‘We are excited about the opportunities that lie ahead and are preparing for the future whilst we continue to grow market share and deliver against our plans for 2023 and beyond.’

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