Gaming Realms PLC (AIM:GMR, OTCQX:PSDMF), the developer and licensor of mobile-focused gaming content, supercharged its brand licensing division to lift total revenues by 36% to £11.5 million in the first half of 2023.
Though brand licencing is the AIM-listed group’s smallest revenue stream, the 222% surge in sales made it easily the fastest-growing segment, with the core content licencing segment also enjoying a 37% uplift.
Underlying earnings increased 37% to £4.8 million, with profit before tax coming in 74% higher at £2.4 million.
Net cash at the end end of the period jumped 54% to £4.5 million compared to the end of the previous period.
Basic earnings per share increased from 0.48p to 0.86p
This growth was thanks to numerous operational highlights, including partnerships with Bet365 and Entain in the UK and Pokerstars in the US, brand licensing agreements for Tetris and Space Invaders, and the release of five new mobile games on the market, including Slingo Cleopatra and Slingo Money Train.
Gaming Realms expects growth to continue in the second half of 2023, with the European market continuing as the largest contributor to content licensing revenues
Chief executive Mark Segal said: "We have delivered a strong first-half performance as we have grown our international licensing business with the launch of our innovative Slingo content to a growing number of partners and players.
"The group has a strong pipeline of new business and the outlook for the group remains positive. We are seeing growth in our existing partnerships coupled with new operator, product and market launches, which gives us great confidence in terms of the longer-term prospects for the business."