SCi down, but beats market expectations

For the nine months to June 30th 2005, the group recorded a pre-tax loss of £14 million, seven per cent better than the market expectation of a £15.1m loss.

Eidos turned in a £1.6m profit for the seven-week period following its May 16th acquisition, boosted by the performance of Championship Manager and Lego Star Wars.

SCi stated that the integration of its former UK rival was proceeding well, expecting to return the publisher to profitability during the 12 months to June 30 2006.

The company this week also revealed it has bolstered its senior management team with the appointment of industry veterans Larry Sparks and Ian Livingstone, as head of brands management and product acquisition director respectively.

SCi, now the UK’s largest games publisher, added that it was on track to make £14m savings for the first year after acquisition.

“SCi is now a major force in the global interactive entertainment industry,” commented chief executive Jane Cavanagh. “We own some of the strongest brands in the games and some of the most talented development studios in the world.

“We expect the 2006 financial year to demonstrate the strength and breadth of the new Group’s brands and return Eidos to profitability. The launch of new hardware platforms plus the continued expansion of mobile and online games should continue to drive growth in the overall market and therefore the opportunities available to the enlarged Group.”

Advertisement

Tags: This article has no tags

Follow us on

  • RSS