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Frontier Developments Expects Revenue Rise And Swing To Profit

Thu, 25th Jun 2015 09:41

LONDON (Alliance News) - Video games developer Frontier Developments PLC on Thursday said its revenue doubled in its recently-ended financial year and said it expects to swing to an operating profit.

Frontier said its revenue for the year to the end of May more than doubled to GBP22 million, from GBP9.5 million a year earlier, while it expects to post an operating profit of GBP1.25 million, compared to a GBP1.7 million operating loss.

The company said it has been boosted by the launch of 'Elite: Dangerous', its first major self-published game in December, total paid unit sales of which have hit 640,000.

"We are progressing well with our plans, and the reception of both the first video of our second franchise Planet Coaster and the Xbox One Elite: Dangerous game from the recent E3 trade show has been excellent. The outlook for the company is very strong," said Chief Executive David Braben in a statement.

Frontier shares were down 0.6% to 212.25 pence on Thursday.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance