StockMarketWire.com - Video game maker Codemasters swung to a first-half profit on improved gross margin thanks to continued digital sales growth. For the six months ended 30 September 2019, the company reported a pre-tax profit of £10.5m, compared with a loss of £7.6m on-year as revenue increased slightly to £39.8m from £39.7m.
Gross margins increased to 89.0% from 88.5%.
Digital sales continued to increase, representing 61.7% of total sales, compared with 53.4% last year.
Looking ahead, the company said the shift to digital sales was expected to continue to boost gross margins and it remained 'confident' that the results for the full year would be in line with its expectations.
At 9:14am: [LON:CDM] Codemasters Group Holdings Plc Ord 1p share price was +1.5p at 215p
Story provided by StockMarketWire.com
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