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Ubisoft on track as profits rise

June 16th by Johnny Minkley

Ubisoft has reported a strong rise in operating profit for its 2004/05 fiscal year.

For the 12 months to March 31st 2005, profits soared to E41.4 million, compared with 1.5m last year. This was in-line with Ubisoft’s guidance of between E40m-50m.

Sales were up by eight per cent, the French publisher highlighting the continued success of its Tom Clancy and Prince of Persia franchises in helping drive the rise.

The company said its goals for fiscal 2005/06 remain unchanged, stating it wanted to double the size of its business and triple net income over the next four years.

“2004-205 was another year of success for Ubisoft,” commented president and CEO Yves Guillemot. “Sales grew much faster than the industry, we kept tight control on our cost base and net income exceeded out initial target.

“These positive trends will continue: for this year, we expect sales to reach approximately E600 million and operating income to be about E55m, at constant exchange rates.”

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