Frontier Developments PLC (LON:FDEV) says it is “comfortable” with analyst forecasts for its current year following strong launch sales for its Planet Zoo video game following its 5 November launch.
The Cambridge-based game developer reiterated its expectation that revenue for the year ending 31 May 2020 will range between £65mln-£73mln, adding that “two major new releases” from its internal development teams were also planned for its 2022 financial year.
READ: Frontier Dev's Planet Zoo could blast sales forecasts out of the water, says Berenberg
The firm added that its theme park simulation game, Planet Coaster, will release on consoles next summer following its success on PC, while a downloadable content pack for its Jurassic World Evolution game will be released on 10 December.
A new release for the group’s Elite Dangerous sci-fi simulation game is also planned for 2021.
Analysts at Frontier’s house broker Liberum retained their ‘buy’ rating and 1,800p target price, saying the expansion of Planet Coaster to console was “strategically important”.
Meanwhile, Shore Capital said the planned 2022 releases were “positive news” as it was above the original target of one release per year and gave analysts “proof of confidence, and scale within the team”.
In early trading on Friday, FDEV’s shares were 3.1% higher at 1,264p.