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Digital sales on the rise at Codemasters

Mon, 08th Oct 2018 10:46

(Sharecast News) - Video game developer Codemasters said first half revenue came in at £39.7m as digital sales as a proportion of revenue continue to increase.In a trading update, the company said digital sales represented 53% of total sales in the period, resulting in an improved gross margin of 88.5%.The group had net cash as at 30 September of £17m.As a result, Codemasters said it was confident that the results for the full year would be in line with its expectations.Codemasters has a portfolio of racing games and generates sales through both new releases as well as through its existing catalogue of titles.The results include the launches in the period of ONRUSH (released on 5 June 2018) and the annual instalment of the F1 franchise, F1 2018 (released on 24 August 2018), as well as the company's back catalogue of games.ONRUSH received good critical reviews, although it made a smaller revenue contribution than the other revenue streams in the period, the company said."Whilst the company will continue to support the game with new content, micro transactions, price promotions and access via subscription services to build brand awareness for the future, ONRUSH is not expected to make a meaningful financial contribution in the second half of the financial year.""Sales of F1 2018 have been strong across all platforms and F1 2018 is expected to make a material revenue contribution in the second half of the company's financial year, particularly via digital sales."Codemasters said it would launch F1 Mobile Racing, a free-to-play mobile game, in the second half of the financial year "which will be accessible to a wider audience and potentially provide new revenue streams for the future".
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25 Nov 2020 13:38

Wednesday broker round-up

(Sharecast News) - Codemasters Group: Berenberg downgrades to hold with a target price of 485p.

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25 Nov 2020 11:47

Berenberg lowers Codemasters to 'hold'

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23 Nov 2020 16:38

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23 Nov 2020 13:03

Codemasters H1 revenues more than double on game releases

(Sharecast News) - Video game developer Codemasters said on Monday that first-half revenues more than doubled and operating profit rose as it released three new games.

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16 Nov 2020 16:06

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10 Nov 2020 12:42

Codemasters Agrees To GBP726 Million Takeover By Take-Two Interactive

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10 Nov 2020 08:05

US-based Take-Two to buy Codemasters for ?759m

(Sharecast News) - Video games developer Codemasters has agreed to be bought by US-based Take-Two Interactive Software for around £759m.

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10 Nov 2020 08:05

US-based Take-Two to buy Codemasters for £759m

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6 Nov 2020 16:58

Codemasters ready to recommend offer from Take-Two Intercative

(Sharecast News) - Codemasters will recommend a takeover offer from US-based Take-Two Interactive if its American suitor makes a firm commitment.

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