StockMarketWire.com - Video games developer Frontier Developments' operating profits rose by 550% to £7.8m in the year to the end of May.

Revenues were up 75% at £37.4m and operating margins rose to 21% from 6% last time.

EBITDA increased 159% to £12.7m.

Chief executive David Braben said: "We have successfully transitioned our business model, and I am delighted with the performance of both Planet Coaster and Elite Dangerous. Our next franchise, Jurassic World Evolution, is in development and scheduled for launch in summer 2018.

"We believe that developing our business to achieve repeatable success requires scale.

"We are continuing to grow our capability and over time we aim to double our output, from roughly one major launch every two years, to one every 12 months or so."

He added: "We are at the start of our journey; our long term ambition is to become a global leader in entertainment and Tencent's recent strategic investment will help drive our scale-up plans."








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