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Video games publishing company Frontier Developments reported higher profit in the first half of the year on improved revenue and margins.
For the six months to 30 November 2020, pre-tax profit rose £6.5 million from £5.4 million year-on-year as revenue rose to 15% to £36.9 million
Gross profit margin grew to 71% from 67% thanks to 'lower average distribution costs, including lower digital store commission rates on some services, and a greater proportion of revenue from own-IP titles versus licenced IP titles,' the company said.
Looking ahead to fiscal 2022, the company said it anticipates 'significant growth from the continued strong performance of our existing portfolio 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.'
At 9:09am: (LON:FDEV) Frontier Developments PLC share price was 0p at 2540p