SCi: ‘Were in good shape’

In a trading update released ahead of its fiscal 2008 financial results release on September 15th, SCi chief executive Phil Rogers has stated that the UK publisher is in good shape following a number of recent structural changes.

Revenues are expected to hit 134 million, with losses of no more than 100 million.

The firm predicts a reduction of 14 million in its operating costs, the completion of the sale of its Spanish distribution arm PROEIN, further movement of its production services to Montreal and the completion of its distribution integration with Warner Bors in North America.

It also stated that it expects its headcount to be reduced by 25 per cent, and to complete its substantial downsizing of Conflict developer Pivotal Games.

Tomb Raider: Underworld is expected before the end of the year, along with free-roaming action game Just Cause 2 – there was also mention of a title simply referred to as a Batman game”.

Since the turn of the year the company has secured a new 25 million debt facility and raised 60 million through new shares. Two non-executive directors, Time Warner’s Kevin Tsujihara and Thorson’s Aaron Brown, have also joined the publisher’s board, along with Robert Brent who became the firm’s CFO.

"We have a clear strategy in place and have taken decisive steps to become a studio-led business with a focus on cornerstone franchises and a flexible approach to distribution,” Phil Rogers explained.

There has been substantial change and the business is in good shape to take advantage of the strong overall market for video gaming worldwide."

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