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Frontier Developments trades in line, expects FY revenue growth
28th Aug 2020 08:42
(Sharecast News) - Video games publisher Frontier Developments said on Friday that year-to-date sales had been consistent with expectations as momentum from its strong close to the prior trading year carried over to the new one.
Based on its strong performance to date and projections for the rest of the trading year, the AIM-listed firm now expects to deliver revenues within the top half of current expectations at around £83.0m to £95.0m.
Frontier stated it was "very well placed for the future", with three new releases scheduled for the year, together with new games published by affiliate Frontier Foundry.
Chief executive David Braben said: "We've announced further releases to an already exciting line-up for FY21. Our team has done an amazing job developing strong releases for all four of our existing titles, and I am also looking forward to seeing the reaction to our first two Frontier Foundry games - Struggling and Lemnis Gate."
As of 0840 BST, Frontier Developments shares were up 5.70% at 2,198.60p.
Based on its strong performance to date and projections for the rest of the trading year, the AIM-listed firm now expects to deliver revenues within the top half of current expectations at around £83.0m to £95.0m.
Frontier stated it was "very well placed for the future", with three new releases scheduled for the year, together with new games published by affiliate Frontier Foundry.
Chief executive David Braben said: "We've announced further releases to an already exciting line-up for FY21. Our team has done an amazing job developing strong releases for all four of our existing titles, and I am also looking forward to seeing the reaction to our first two Frontier Foundry games - Struggling and Lemnis Gate."
As of 0840 BST, Frontier Developments shares were up 5.70% at 2,198.60p.