Video games designer Frontier Developments (AIM:FDEV) PLC reported a 19% rise in revenue in its full year results driven by its own franchise games and first sales through Foundry, its new third-party game publishing label.
Revenues of £90.7mln for the year ended May 31 marked a new company record, while operating profit jumped 20% to £19.9mln and underlying earnings (EBITDA) were up 21% to £38.1mln.
The year ended with £42.4mln of cash in the bank, after investing £14mln into Foundry and the company’s own games pipeline.
The developer said its existing game franchise portfolio continues to perform well.
It highlighted that engagement is gradually improving in the player community for the Elite Dangerous game after its botched release, and, that it has seen strong sales for the Planet Zoo, Planet Coaster and Jurassic World Evolution games.
“We were delighted to achieve record financial results in FY21 from our existing portfolio of games franchises,” said David Braben, chief executive.
“Our team has also been busy on our future titles, and we look forward with confidence based on our strong existing portfolio and our exciting roadmap of new releases."
Looking ahead, Frontier highlighted that it presently has its “strongest ever” games roadmap.
Foundry has six game releases on the slate, with at least three due for release in 2022, meanwhile, Jurassic World Evolution 2 (the company’s management-sim based on the fictional dinosaur theme park) is set to be released in November ahead of the Christmas period.
It also anticipates the release of its first of what is expected to be an annual F1 team management-sim game during the 2022 season.