Last checked at 19 Apr 2017 07:00
19 April 2017
Frontier Developments plc
Trading Update
FY2017 Ahead of Expectations
Frontier Developments plc (AIM: FDEV; "Frontier" or the "Company"), a leading independent creator of video games, is pleased to announce an update on trading for the financial year ending 31 May 2017 (FY17).
Revenue and profit for the current financial year are now projected to be ahead of the Board's expectations. This is due to strong sales following a successful November and December Holiday period combined with a positive Easter weekend. The performance of both current franchises, Elite Dangerous and Planet Coaster, has been helped by a continuing roadmap of updates, delivering additional content, improvements and extensions.
The Board now expects revenue for the financial year ending 31 May 2017 of approximately £36 million, which would represent a 68% increase over the prior year. The Board anticipates that the Company will achieve an operating profit margin (as reported under IFRS) of 15-20% for FY17, compared to 6% and 7% recorded for FY16 and FY15 respectively.
The Company expects to report its full audited financial results in September 2017.
David Braben, Chief Executive of Frontier Developments, said:
"The launch of Planet Coaster has driven a step up in our financial performance, and we now have two strong franchises in the market following our successful transition to self-publishing.
We anticipate further significant revenue growth steps will be driven by the release of new franchises - our third franchise, based on an enduring Hollywood movie IP of global renown, is now in development for release in calendar 2018."
Enquiries:
Frontier Developments | +44 (0)1223 394 300 |
David Braben, CEO |
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Alex Bevis, CFO |
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David Walsh, COO
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Numis - Nomad and Joint Broker | +44 (0)20 7260 1000 |
Simon Willis / Jamie Lillywhite (Nomad) / Toby Adcock
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Finncap | +44 (0) 207 220 0500 |
Matt Goode/Giles Rolls
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Tulchan Communications | +44 (0) 207 353 4200 |
James Macey White/Matt Low |
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About Frontier Developments plc
Frontier Developments plc, listed on the AIM stock market (AIM: FDEV), is a leading independent creator of self-published videogame franchises founded in 1994 by David Braben, co-author of the seminal 'Elite' game. Based in Cambridge, Frontier uses its proprietary 'COBRA' game development technology to create innovative games, currently focusing on videogame consoles and personal computers.
www.frontier.co.uk
About Elite Dangerous
Elite Dangerous - available for Windows PC, Apple Macintosh, Microsoft Xbox One and coming to Sony Playstation 4 in 2Q 2017 - is the definitive massively multiplayer space epic, bringing gaming's original open world adventure to the modern generation with a connected galaxy, evolving narrative and the entirety of the Milky Way re-created at its full galactic proportions.
www.elitedangerous.com
About Planet Coaster
Planet Coaster - available for Windows PC - builds on Frontier's genre-defining expertise with coaster park games such as RollerCoaster Tycoon 3 and Thrillville. It further raises the bar for this popular genre, allowing players to let their imaginations run wild as they surprise, delight and thrill incredible crowds, and share their success with the world via the Steam Workshop community.
www.planetcoaster.com