News
Gameloft posts 1H08 loss
Stuart O'Brien Aug 29 2008, 2:01pm
Mobile games publisher in the red by €800,000, but expects profitability to "improve substantially" in FY.
Gameloft has posted at net loss of €800,000, but an operating income up 18 per cent at €1.4 million for 1H08.
The Paris-based company had already confirmed its 1H08 revenues, which were up 10 per cent at €50.3 million.
Gameloft said its operating margin for 1H08 stands at 5.5 per cent, compared to 5.1 per cent in the first half of 2007, despite a 29 per cent increase in its average headcount over the period.
The company says it expects operational margins to continue to improve 2H08 and is confident in renewing its goal for operating profitability over the full financial year. It's near-legendary developer headcount now stands at 3,300
At June 30, 2008 Gameloft's equity stood at €47.3 million, net cash was €12.7 million and financial indebtedness remained at zero.
Second half growth (and beyond) will be fueled by what Gameloft calls "rich games" for N-Gage, iPhone, Wii, XBLA and PS3.
