Frontier Dev Share News (FDEV)

(Alliance News) - Video games developer Frontier Developments PLC said Wednesday that revenue for the first half of its financial year dropped substantially, even with the strong release of its newest video game franchise.

For the six months to the end of November, Frontier reported revenue of GBP32.0 million, down 51% from GBP64.7 million the same period the year before.

The group said all four of its game franchises performed well over the Christmas period, allowing Frontier to continue expecting sales for the full financial year to be within analyst consensus of GBP65 million to GBP73 million.

This would still reflect an 18% to 26% fall from GBP89 million reported for the prior year.

In November, Frontier released it fourth video game franchise Planet Zoo. This sold more PC units on the day of release than any of the group's previous IPs, the company said. To date, Planet Zoo sales have continued to be strong, it said, particularly over the Christmas period.

"We are pleased with the successful launch of Planet Zoo and the continuing performance of Elite Dangerous, Planet Coaster and Jurassic World Evolution. It is great to see how many players have actively engaged with Planet Zoo - sharing their intricately constructed habitats and the animals they have nurtured," said Chief Executive David Braben.

Shares in Frontier Developments - which is based in Cambridge - were down 1.1% at 1,252.00 pence on Wednesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

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