Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF)’s full-year trading statement released on Monday, April 3 was in line with expectations laid out in February, house broker Peel Hunt today stated.
Pre-tax profits hit £3.5mln in 2022, up 224% from £1.1mln in the previous year, as sales shot up by 27% year-on-year to £18.7mln.
First-half results are a “soft comp for current trading”, said Peel Hunt, making the broker’s full-year 2023 revenue growth forecast of 22% “reasonable in the context of today’s current trading news”.
Gaming Realms is in strong growth, and has a healthy cash balance, analysts noted.
Peel Hunt reiterated a buy rating with a target price of 60p against a publication price of 27.25p.