Frontier Developments expects annual revenues to more than double
StockMarketWire.com - Videogames company Frontier Developments said it expected annual revenue to more than double from a year ago, led by the success of its third self-published game Jurassic World Evolution.
'Frontier expects to report record annual revenue of approximately £89m for FY19, which is more than two and a half times the previous financial year (FY18: £34.2 million),' the company said.
The 'substantial growth' in revenue reflected the success of Jurassic World Evolution, Frontier's third self-published title, which launched in June 2018, combined with the ongoing performance of Frontier's first two self-published titles, Elite Dangerous (2014) and Planet Coaster (2016), which each benefitted from Frontier's strategy of supporting and nurturing existing titles, the company added.
Frontier also expected to report an operating profit margin of approximately 21% for FY19, up from 8% last year.
'We have had our best ever year in terms of our financial performance, which is a testament to the skill and hard work of our amazing team, our strategy of nurturing our titles post-launch over many years, and to the ongoing support of our worldwide communities of players,' said David Braben, Chief Executive.
'We are really excited about delivering our next game, Planet Zoo, later this year. The reception we have had from the community has been excellent and we are looking forward to introducing them to the most authentic animals in videogame history.'
The company expected to release full financial results in early September 2019.
At 8:39am: (LON:FDEV) Frontier Developments Plc share price was +80p at 1184p
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