Phil Elliott
11:15 (BST)
30/07/2007
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Gameloft results exceed targets
Mobile games publisher posts strong revenues
Although Ubisoft may have sold its 19 per cent stake in Gameloft, the mobile games publisher's first half results show a significant rise in sales.
The company took EUR 45.9 million in total, up 50 per cent on the same period in the previous year. Europe accounted for 44 per cent of sales, North America for 38 per cent and the rest of the world for 18 per cent.
Gameloft has identified two reasons for the better-than-expected growth - a strong back catalogue and the success of new titles launched in the period.
The company had set an annual growth target for this year of between 39 and 46 per cent, and has increased its cash level from EUR 18.6 million at the end of 2006 to EUR 21 million at the end of June 2007.
Among the titles Gameloft has released this year are franchises such as Shrek the Third, Desperate Housewives and Lost, plus sport tie-ins Real Soccer 2007 and Tennis Open 2007 featuring Leyton Hewitt.
The company reiterated its EUR 95 - 100 million sales objective for this year, as well as its ambition to hit EUR 130 million in 2008.
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