(Sharecast News) - Videogames maker Frontier Developments has seen increased demand for its titles over recent months as a result of Covid-19 lockdowns across the world.
Frontier, the company responsible for Elite Dangerous: Arena, said on Wednesday that demand during May continued to be high, which was providing the group with "a strong finish" to the financial year.
The AIM-listed group now expects operating profits for 2020 to be "materially ahead" of the top end of its previous guidance range of £11-13m, while revenues were projected to be above guidance of £65-73m.
Chief executive David Braben said: "Lockdown is a challenge for many people, and is going on for longer than most of us expected, but it is great to see so many more people joining our communities during these difficult times across all our games.
"We continue to be delighted by the engagement, passion and feedback from our players, and look forward to a bright future post-lockdown, as we believe many of our new players will stay with us for the long term."
As of 1125 BST, Frontier Developments shares had shot up 13.30% to 1,873.94p.
Frontier Dev (FDEV)9 May 2024 21:59
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