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Gameloft revenues up 11% on strong App Store showing

First half numbers see 82% uplift on Apple's platform; continued growth expected

Mobile games publisher Gameloft has announced its financial results for the first half of its fiscal year to June 30, 2010, noting an 11 per cent increase in overall sales compared to the same time frame last year to €66.6 million.

Those results helped the company achieve a €5.3 million profit, more than doubling last year's total of €2.2 million - and the publisher expects the continued sales of smartphones to help it sustain that growth.

One of the main reasons for the improvement was an 82 per cent growth in revenue from Apple's App Store, while the company also cited "efficient cost control" as a contributing factor.

"Gameloft should continue to win over market share in Java and Brew phones, as a result of the progressive withdrawal of a large number of competitors," it said in a statement.

"The recent and future releases of new high-performance smartphones from Apple, Samsung, Nokia and Google should continue sustaining Gameloft's growth in the upcoming quarters. Gameloft has become one of the top game publishers on Apple's iPhone and iPad, and its AppStore revenues grew 82 per cent during the first half of 2010.

"The release of new devices that are suited for videogames such as Apple's iPad will allow Gameloft to continue its diversification with other formats and provide the company with interesting relays for growth.

"Gameloft is one of the very few players in the market that has the resources and know-how allowing it to be present systematically at the launch of all the new downloadable consoles and tablets (iPad, PlayStation Network, Nintendo DSiWare, Nintendo WiiWare, etc)."

At the time of writing, the company's share price was holding steady at around €3.56.

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Phil Elliott