SCi profits fall but Eidos acquisition boosts revenue

SCi Entertainment has posted its half-year financial results, showing a hefty profit fall in line with expectations - but the company said it is confident that forthcoming Eidos titles will boost revenues.

For the year ending December 31st, 2005, SCi made a pretax loss of GBP 20.1 million, compared to profits of GBP 3.9 million during the same period a year earlier.

However, revenues were up following SCi's acquisition of Eidos last May, rising from GBP 17.9 million to GBP 50.1 million.

SCi said it is confident of meeting its full-year profit target of GBP 23 million EBITDA, thanks to the forthcoming release of a high profile titles such as Tomb Raider: Legend - due to arrive on PC, PS2, Xbox and Xbox 360 on April 7th.

"After the acquisition of Eidos in May 2005 we have integrated the two groups, achieved target cost savings and rebuilt the strength of key Eidos franchises," said SCi chief executive Jane Cavanagh.

"We are confident that the launch of eagerly awaited titles such as Tomb Raider Legend and Hitman: Blood Money provides a firm base to our profitability for the full 2006 financial year."