Frontier Developments plc (AIM: FDEV), a leading developer and publisher of videogames based in Cambridge, provides an update on trading for the 12 months ended 31 May 2019.
Frontier expects to report record annual revenue of approximately £89 million for FY19, which is more than two and a half times the previous financial year (FY18: £34.2 million). This substantial growth in revenue reflects 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. Frontier expects to report an operating profit margin of approximately 21% for FY19 (FY18: 8%) when full financial results are announced in early September 2019.
David Braben, Chief Executive, said:
“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.
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.
Our development roadmap is looking really good. We are also making great progress with our Frontier Publishing initiative, with our first partnership announced last week, with highly experienced developers Haemimont Games. We are in an excellent position for the future.”
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