Video game developer Frontier Developments PLC (LON:FDEV) said it feels comfortable it will meet analysts’ revenue forecasts for 2019 after delivering a record performance in the first half and strong Christmas sales.
The company expects to report revenue of £64mln for the six months to November 30, compared to £19mln a year ago, boosted by the successful launch of the Jurassic World Evolution game and sales of the Elite Dangerous and Planet Coaster franchises.
Frontier said the June launch of Jurassic World Evolution -- based on the 2015 film Jurassic World -- was its most successful to date with the sale of one million base game units within five weeks.
READ: Frontier Developments sees R&D costs and margin shrinkage bite into 2018 earnings
“Based on trading performance in the first six months of the financial year, combined with sales over the Christmas holiday period, the board remain comfortable with the analyst revenue projections of £75mln to £88mln for FY19 (the year ending 31 May 2019) and anticipate that revenue should exceed the mid-point of this range,” the group said.
Shares were little changed at 905.2p in mid-morning trading.
