Gree profits down year-on-year as revenues slide

Net sales fall by £40m during Q2 compared to the year prior
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Profits at mobile gaming firm Gree have fallen year-on-year as its revenues continue to slide.

For the three months ending December 2013, the company reported net sales of ¥32.6 billion (£192m), down from ¥35.3bn (£207.5m) in the previous quarter. This was also down significantly from the ¥39.4bn (£232m) reported during the same period the year prior.

Profits grew ¥5bn (£29m) to ¥7.4bn (£43.5m) however compared to the previous quarter, but this was still down from Q2 2013, which saw the company bring in ¥9bn (£53m).

Despite falling revenue, with Japan sales declining quarter-on-quarter, Gree said its overseas operations grew to $200m (£120m) in 2013.

To help combat overall falling revenue, Gree has said it is working a number of new first-party titles in new genres for the firm such as action battle RPG, side-scrolling RPG, real-time strategy and action tower defence in an effort to boost sales.