Frontier Developments flags record full-year revenue

(Sharecast News) - Video games developer and publisher Frontier Developments updated the market on the financial year just ended on Tuesday, reporting a 26% rise in unaudited revenue to a record £114m.

The AIM-traded firm said base game unit sales of Jurassic World Evolution 2 exceeded 1.3 million units, while Warhammer 40,000: Chaos Gate - Daemonhunters was performing ahead of expectations.

It said its cash profit for the 12 months ended 31 May was in line with expectations, subject to audit, while its IFRS operating profit would be reduced by a one-off amortisation charge.

Looking ahead, the firm said game releases in the 2023 period would include the Jurassic World Evolution 2: Dominion Biosyn expansion and F1 Manager 2022, in June and August respectively, as well as three new Foundry titles.

"We've had another year of solid growth," said founder and chief executive officer David Braben.

"Following its launch in November, our player base for Jurassic World Evolution 2 has continued to expand, as expected.

"We are now very well set up for the future, with the Dominion expansion and bundles launching today for Jurassic World Evolution 2, and F1 Manager 2022 due later this summer."

Braben said the company's workforce had "overcome many challenges" in the year.

"Our games label, Frontier Foundry, has performed well too, with Warhammer 40,000: Chaos Gate - Daemonhunters launching right at the end of the financial year and looking good for 2023 too, with further exciting Foundry releases to come."

At 1402 BST, shares in Frontier Developments were up 20.22% at 1,296p.

Reporting by Josh White at Sharecast.com.

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