Phil Elliott
11:39 (BST)
30/08/2007
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10Tacle revenues up 50%
Income hike thanks largely to funding for Asian expansion
10Tacle Studios has announced a revenue increase of EUR 19.4 million (USD 26.4 million) in the first six months of this fiscal year.
That figure is up year on year by around 50 per cent from EUR 12.7 million (USD 17.3 million) in 2006, and the company expects full year revenue to hit approximately EUR 52 million (USD 70.7 million).
Earnings before interest and tax grew by 45 per cent to EUR 3.37 million (USD 4.58 million).
The rise in revenue can be mostly attributed to income generated from the Asia Games & Media Private Equity Fund, based in Singapore, to the tune of around EUR 14 million (USD 19 million).
That funding has enabled 10Tacle to expand into Asia, something which the company believes will create "the opportunity to benefit from growth in this dynamic region to an even greater degree in the future."
The earnings per share stood at EUR 0.33 (USD 0.45) as of the end of June this year.
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