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Future profits up, but games underperform

US business back in the black with $2.5m rebate

Future Publishing has reported improved profits for the full financial year, but the videogame market is the least successful specialist area for the business.

Pretax profit was up from £7.6 million to £8.3 million, with revenues down marginally from £153.1 million to £151.5 million.

The company returned to profitability in the US, and benefited from a tax rebate of $2.5 million that it intends to invest in its San Francisco business.

Although games magazines failed to contribute to the increase in sales, new digital products were beginning to pay off, said CEO Stevie Spring.

"We saw increases in both revenue and contribution in 16 of our largest print titles from all parts of the portfolio except games, where we did see revenue growth in our digital products both online and on console with the launch of FirstPlay."

"In 2010 our games business continued to be dampened by a sluggish release schedule," she added.

Games revenue for the period ended September was £43 million, down from £47.2 million a year earlier. Profit contribution from games was £9.1m, compared to £10.7 million.

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Matt Martin

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Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.

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