JoWooD Productions' latest half-year financial results revealed a dip in sales and profits compared to the same period last year, but the publisher managed to reduce costs significantly and expects better results from titles due out in the second half of 2004.
According to figures published this week, sales fell from â'¬12.3 million to â'¬7.3 million in the first six months of the year, and income was down around â'¬3.3 million to â'¬4 million.
However, costs were also down. Administration, sales and other expenses have been cut by 28 per cent to â'¬3.1 million. Furthermore, the second quarter results demonstrated a sharp improvement - with results 90 per cent higher than for the first three months of the year.
The publisher also managed to increase its market share in Germany to 4.62 per cent, and pointed out that much of its money has been invested in like Gothic II, Spellforce II, The Guild II, Hotel Giant II and Stargate, which it hopes will reap rewards in the second half of the year.
However JoWooD's main strategic target for the current year is entry into the console market, which the publisher plans to do with a number of its existing franchises including AquaNox and Neighbours From Hell, and outside titles like Future Tactics: The Uprising.