Gameloft Announces Record Half Year Sales

Officials from French mobile developer Gameloft have announced details of the company’s first half year financial results, for the period ended June 30th, during which sales have increased to well above the company’s stated targets. During this period the company saw consolidated sales of €45.9 million ($62.7m), an increase of 50 percent on the previous year. The results are ahead of the company’s annual growth target of between 39 and 46 percent. As a consequence full year sales objectives of between €95 million and €100 million ($130m to $137m) have remained unchanged. The company’s cash reserves have increased from €18.6 million ($25.4m) to €21 million ($28.7m) over the last six months, leaving the company confident of at least breaking even during the full year. In keeping with standard French business practices, profit results for the first half of the year will not be announced until next month. Although the company has dabbled in portable console development, including versions of its Asphalt Urban GT series, it is best known for its mobile phone output. The company now has a back catalogue of almost 200 games, with recent successes including Shrek the Third, Desperate Housewives, Lost, Real Soccer 2007 and Tennis Open 2007. Gameloft’s games are sold in over 80 countries via more than 180 carriers and over 1,000 different handset models. Europe accounted for 44 percent of the company’s sales during the first half year, with North American on 38 percent and the rest of the world at 18 percent. Despite Ubisoft’s recent sale of all of its Gameloft shares, the two French companies have indicated that they will continue to work closely in the future. For 2008, Gameloft has set a goal of more than €130 million ($178m) sales, with an operating margin target of 15 percent.