UBIsorf makes financial gains
Nov 21st, 2007 by admin
Submitted by Gaming Briefs and Nostalgia Bits
They’ve gotten a boost lately:
PARIS (Reuters) - Ubisoft, Europe’s largest video games publisher, said on Tuesday it swung back to profit in the first half of 2007-08, driven by higher sales, and it kept its financial goals for the full year.
The maker of hit games such as “Splinter Cell” and “Prince of Persia” also predicted that fiscal year 2008-09 would be “another year of robust growth for the group.”
“Early indications for our Christmas games launches have been positive, especially for ‘Assassin’s Creed;, whose sell-through sales have already topped the record level of one million units,” Chief Executive Yves Guillemot said in a statement.
Current operating profit for the six months to September 30, 2007 was 9.1 million euros and compared to a loss of 33.6 million euros in the same period of 2006-07.
Ubisoft achieved a net profit of 30.6 million euros against a loss of 20.5 million euros. This was notably after a gain of 7.5 million from the positive outcome of a lawsuit and 14.3 million from the sale of shares in Gameloft, Europe’s biggest provider of games for mobile phones.
Sales rose an already reported 52 percent to 261 million euros, a performance boosted by games for new-generation consoles, which now make up 75 percent of the group’s sales.
Ubisoft kept its targets for the year to end-March 2008 of sales of about 825 million euros and for current income before stock options to be at least 9 percent of sales.
Boy, aren’t they lucky.
Visit 1800blogger to see all of our industry leading blogs.
