StockMarketWire.com - Frontier Developments revenues rose by 66% to £18.1m and EBITDA increased by 179% to £5.8m in the six months to 30 November.

Frontier said it completed its transition from being a work-for-hire game developer to being a creator of multiple self-published video game franchises with the successful launch of its second franchise, Planet Coaster which received a positive reception from gamers and reviewers - by the end of December over 0.5 million paid units had been sold.

It said that Elite Dangerous continued to perform well and by the end of December a total of over 2.1 million paid franchise units had been sold.

The company said it continued to increase its investment in supporting its game franchises, its operational infrastructure and other business activities and work on a third franchise has begun.

Chief executive David Braben said: "I am delighted that, as planned and on schedule, Frontier is now self-publishing multiple franchises.

"This marks the end of the transition in our business model and the beginning of a new phase of growth.

"Our strong financial position enables us to further our investment across the business as we scale for long-term growth.

"We made another important step toward that goal by recently choosing to licence a globally-renown IP from a major Hollywood studio to develop as our third franchise.

"I look forward to revealing more details later this year."




At 8:00am: [LON:FDEV] Frontier Developments Plc share price was 0p at 282.5p



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