Gaming Realms H1 revenue and underlying earnings up double-digits

30th Jul 2024 11:48

(Sharecast News) - Mobile-focussed games developer Gaming Realms said on Tuesday that interim revenue and underlying earnings were up double-digits thanks to growth in content licensing and market expansion.

Gaming Realms said H1 revenues were expected to be approximately £13.5m and adjusted EBITDA was pegged at £5.8m, reflecting year-on-year increases of 18% and 21%, respectively. Excluding brand licenses, where there was a £600,000 one-off item in H123, Gaming Realms said adjusted EBITDA was up 45% year-on-year.

The AIM-listed group noted that its "robust" performance was driven by its core content licensing business, where revenue was up 28%.

Chief executive Mark Segal said: " We are delighted with our strong performance in the first half of 2024, driven by the growth in our core content licensing business. Our expansion into new markets and the successful launch of new games with new and existing partners underscore the strength of our strategy. Looking ahead, we are confident in our ability to maintain this momentum and meet our full-year targets."

As of 1145 BST, Gaming Realms shares were up 5.47% at 39.23p.

Reporting by Iain Gilbert at Sharecast.com