Keyword Studios shares suffer as growth slows

Shares in AIM-listed software development services provider Keyword Studios (LON:KWS) tumbled 3.99% to 2,168p (as of 15:45 BST) as it posted slower organic revenue growth. Revenues for the six months ended 30th June were up by 13.3%, but the rate of organic growth slowed from 17.3% to 8%. Pre-tax profits for the period climbed by 66%.

CEO Andrew Day commented: “While margins were held back by lower volumes compared to our original plans for the year, outweighing the benefits of COVID-19 related cost savings, we expect our margins to move towards our historic norms as we settle into this hybrid working model to serve the strong demand we are seeing from our customers“.