'The transition to the new machines has not been easy,' explains CEO Frank Sagnier

Racing studio Codemasters posts first profit in five years

Codemasters has made its first operational profit in five years and predicts ‘double digit’ growth going forwards. 

The news follows the studio’s acquisition of the Evolution team, the creator of racing games such as DriveClub and Motorstorm.

Speaking to MCV, Codemasters CEO Frank Sagnier said that the firm had endured a challenging few years as it struggled with the move to PlayStation 4 and Xbox One.

“The transition to the new machines has not been easy and in the last couple of years we have focused on what we are good at, doubling down on racing and cutting the areas which we didn’t feel were strategic for us," he said. "We have ended up in fiscal year 2016 with our first operational profit in five years, which is a big achievement."

About MCV Staff

Check Also

Eternal Hope Kwalee

Kwalee hires industry veteran Max Everingham from Team17 to lead console and PC publishing drive

“It’s a joy to be working again with David [Darling] on his quest to become as successful in the PC and console arena as Kwalee has already been in mobile.”