Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF) said it expects first-half revenues and profits to climb by a third with the mobile-game developer and licensor confident it is on track to meet full-year targets.
Revenues in the year to 30 June 2023 are expected to grow by 34% to £11.4mln, while adjusted underlying earnings (EBITDA) are forecast to jump by 32% to £4.6mln, the AIM quoted firm said in a pre-close trading update.
Performance, it said, was driven by growth in its licensing business, which consolidated its market share by going live with 25 new partners and launching five new Slingo games.
"We are delighted to report strong performance in the first half of 2023, demonstrating our ability to deliver consistent growth from our ever-expanding games portfolio across existing and new markets,” said Gaming Realms chief executive Mark Segal.
"As we advance into the second half of 2023, we believe the momentum will continue, backed by our strong commercial pipeline, and that we will meet our full-year targets,” Segal added.
Brand licensing agreements secured with Tetris and TAITO’s SPACE INVADERS, two “internationally renowned games,” are expected to launch in the fourth quarter of this year.