Business
Full Year Trading Update
Full Year Trading Update.
About this update from Frontier Developments Plc
[{"type":"text","content":"\n \nRNS Number : 3240D Frontier Developments PLC 06 July 2016 \n\n6 July 2016\nFrontier Developments plc\nFull year trading update\nFrontier Developments plc (AIM: FDEV, \"Frontier\", the \"Group\"), a leading developer of video games, announces the following trading update ahead of its results for the year ended 31 May 2016 (FY16).\nSummary \nSelf-published revenue grew year-on-year by 13%, and was over 99% of the Group's total revenue in its first full financial year of self-publishing the Elite Dangerous franchise.\nRevenue for the year was £21.3m and the Group expects to report adjusted EBITDA of £6.1m1 and an operating profit of £1.2m. All figures are unaudited.\nFrontier's longer-term strategy is to transition to self-publishing multiple revenue generating franchises. Good progress is being made towards that strategic objective with the Group's second franchise, Planet Coaster, due to be launched 4Q 2016. \nThe number of players of Frontier's games continues to grow:\n· The total Elite Dangerous franchise unit sales increased by over 1 million during the year, and are currently around 1.7 million.\n· Planet Coaster has exceeded the Board's expectations, with around 34,000 unit sales to date during the Alpha stage of development generating over £1.5m.\nThe Group expects to report its results in September 2016.\nElite Franchise\nFrontier has successfully continued to increase the audience for Elite Dangerous. It was released on Microsoft's Xbox One games console in October 2015, and was a launch title on the two major Virtual Reality systems that made their consumer debut in March 2016, Facebook's Oculus Rift and HTC's Vive.\nIn addition Elite Dangerous: Horizons, a paid-for 'season pass' of additional content, was launched on PC in December 2015, following which uptake has been building. The release of the lower-priced Elite Dangerous: Arena instant action arena combat offering rounded out the franchise's presence at all main price points. \nPost period end, Frontier released Horizons for Microsoft's Xbox One console.\nPlanet Coaster Franchise\nFrontier has started to build an early adopter audience for Planet Coaster, using video and live streams to show early progress on the game, and is successfully fostering a growing community.\nThe first two Alpha builds were...