Business
Year end results
Year end results.
About this update from Frontier Developments Plc
[{"type":"text","content":"\n \nRNS Number : 9825S Frontier Developments PLC 14 November 2013 \n \n\n14 November 2013\n \nFrontier Developments plc\nYear end results\nFrontier Developments plc (AIM: FDEV; \"Frontier\" or the \"Group\"), a leading independent developer of video games with studios in Cambridge, UK and Halifax, Canada, has published its full year results for the year to 31 May 2013.\n \nFinancial highlights\n \n· Underlying revenue up 19% to £12.0m\n· Adjusted EBITDA up 12% to £3.6m\n· Like for like operating profit up 27% to £1.8m\n· Adjusted EPS up 27% to 7.3p\n· Cash at 31 May 2013 at £7.2m (31 May 2012: £1.7m)\n· Raised £2.7m via pre-IPO placing over May and June\n· £3.0m provided by revolving credit facility \n· Raised £1.55m for development of Elite: Dangerous through Kickstarter crowd funding site\n· Listed shares on AIM in July 2013, raising £4.0m\n \nOperational highlights\n \n· Opened studio in Halifax, Nova Scotia\n· Completed adaption of proprietary Cobra software technology to work with 64-bit CPU architectures\n· Completed development and released new game IP, Coaster Crazy\n \nRecent developments\n \n· Development of Xbox One launch title based on Microsoft Zoo Tycoon franchise\n· Continued partnerships with key industry players including Microsoft, Apple, Nintendo, Amazon and Atari\n· Elite: Dangerous Alpha testing phase starts December 2013\n· Elite: Dangerous backers reach 35,138 (8,304 added through Frontier's own website), and more being added daily with support nearing £2.0m.\n \nDavid Braben, Chief Executive of Frontier Developments, commented:\n \n\"We are currently in a period of transition following the listing of our shares on AIM and our crowd funding exercise for the development of Elite: Dangerous. We are evolving from being primarily a developer of video games for major external p...