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Frontier Developments says fiscal year-to-date performance ahead of its expectations
StockMarketWire.com
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Videogames maker Frontier Developments said trading in its current fiscal year to date was ahead of its expectations, with revenue up 16% in the first half of the year.
For the period from 1 June through November, the company said it expected to report revenue of approximately £37 million for the first half of fiscal 2021.
Revenue in December, which is typically the biggest month of the year for videogames sales, was stronger than expected and as a result, trading in the current financial year to date was ahead of the board's original expectations, the company said.
The company maintained its previously guided expectations for fiscal 2021 revenue of £90 million to £95 million.
The current range of analysts' revenue projections for fiscal 2022 was £133 million to £153 million.
'We anticipate the continued strong performance of our existing portfolio in FY22 alongside contributions from an exciting line-up of new games, including two multi-platform releases incorporating major global IP licenses and a number of Frontier Foundry titles,' the company said.
At 8:42am: (LON:FDEV) Frontier Developments PLC share price was 0p at 2540p
Story provided by StockMarketWire.com
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