StockMarketWire.com - Frontier Developments - a leading independent creator of video games - said it now expected revenue and profit for year ending 31 May to be ahead of its previous forecasts.

It said this was due to strong sales following a successful November and December holiday period combined with a positive Easter weekend.

The performance of both current franchises, Elite Dangerous and Planet Coaster, had been helped by a continuing roadmap of updates, delivering additional content, improvements and extensions.

The group said the board now expected revenue to be approximately £36m, which would represent a 68% increase over the prior year.

The board also anticipated that the company would achieve an operating profit margin (as reported under IFRS) of 15-20% for FY17, compared to 6% and 7% recorded for FY16 and FY15 respectively.

Chief executive David Braben said: "The launch of Planet Coaster has driven a step up in our financial performance, and we now have two strong franchises in the market following our successful transition to self-publishing.

"We anticipate further significant revenue growth steps will be driven by the release of new franchises - our third franchise, based on an enduring Hollywood movie IP of global renown, is now in development for release in calendar 2018."


At 8:00am: [LON:FDEV] Frontier Developments Plc share price was +30p at 335p



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