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Ubisoft reports $173 million FY 2008 net profits

Ubisoft's net profits more than doubled between 2007 and 2008, boosted by the sale of its stake in Gameloft

Ubisoft has announced full year profits of EUR 109.8 million (USD 173 million) - up from EUR 40.5 million a year earlier.

Sales were up 36 per cent to EUR 928.3 million (USD 1.45 billion). The company's current operating income represents 14.3 per cent of sales.

"The surge in our profitability and net cash in 2007-08 was driven by continued strengthening of existing franchises such as Rainbow Six, Rayman, The Settlers and Ghost Recon, combined with the sharp ramp-up of the 'Games For Everyone' casual range and the successful launch of the new releases, Assassin's Creed and Imagine," said Yves Guillemot, Ubisoft CEO.

"Going forward, 2008-09 is set to be another record year for Ubisoft. We now have 14 multi-million unit-selling franchises and will be launching 5 new IPs during the period as well as new brands in the casual games segment."

The company confirmed its outlook for the 2008-09 year and is maintaining previously announced targets - estimating Q1 sales of EUR 154 million and full-year sales of EUR 1 billion.

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