LONDON (Alliance News) - Videogame studio Frontier Developments PLC Wednesday warned that revenue in its second half will be "substantially" below previous expectations, as it has opted to delay the release of a product.
After a review of the development of its 'Elite Dangerous: Horizons' title, the company has decided that the title's launch will now be after the end of its current financial year to end-May. It was originally intended to be launched in April, however, this will now take place in the first half of the next financial year.
"Over a number of years, Frontier has established an outstanding track record of meeting demanding release schedules and exceptional quality thresholds, so this delay is disappointing. However, it is absolutely critical for the longer-term success of the Elite franchise that we maintain our absolute commitment to quality. Despite this temporary setback, the board and I remain very excited both by the potential of the Elite franchise and the progress that Frontier is making as it transitions to self-publishing," said Chief Executive Officer David Braben in a statement.
Shares in Frontier Developments were down 15% at 196.50 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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