REG - Frontier Dev PLC - Trading Statement

Frontier DevelopmentsAnnouncement

03/07/2018 07:05

RNS Number : 3358T
Frontier Developments PLC
03 July 2018
 


3 July 2018
 
Frontier Developments plc
 
Trading Update
Frontier Developments plc (AIM: FDEV; "Frontier"), a leading independent developer and publisher of video games, provides an update on trading following the launch of Jurassic World Evolution™ in June 2018.
Digital sales of Jurassic World Evolution, Frontier's third game franchise, have been strong across all three platforms, (PC, PlayStation®4 and Xbox One), following its digital launch on 12th June 2018.  Physical discs are available from today for PlayStation®4 and Xbox One across a number of channel partners.
The Board's expectations for the current financial year have increased as a result of the initial sales performance of Jurassic World Evolution.  Although it's very early in terms of both Frontier's financial year and the life-cycle of Jurassic World Evolution, current Board projections indicate that Frontier could achieve total revenue for the year ending 31 May 2019 towards the upper end of the current market analyst range (of £58 million to £88 million).  This is based on sales forecasts for Jurassic World Evolution extrapolated from its initial performance, together with the expected performance of Frontier's first two franchises, Elite Dangerous® and Planet Coaster®.
David Braben, Chief Executive, said:
"We are pleased with the positive reaction we have seen to the launch of Jurassic World Evolution and its initial sales performance.  We will continue to support all three of our existing franchises (Jurassic World Evolution, Planet Coaster and Elite Dangerous) as we enhance their content further.  We already have future franchises in different phases of internal development and we will continue to explore other models to accelerate our scale-up.  I look forward to providing updates on our future plans in due course."
Frontier expects to announce its audited full year results for the 12 months ending 31 May 2018 on Wednesday 5 September 2018.
The information communicated in this announcement is inside information for the purposes of Article 7 of Regulation 596/2014.
 
Enquiries:
Frontier Developments                                                                                                +44 (0)1223 394300
David Braben, CEO / David Walsh, COO / Alex Bevis, CFO
               
Liberum - Nomad and Joint Broker                                                                          +44 (0)20 3100 2000
Neil Patel / Cameron Duncan    
               
finnCap - Joint Broker                                                                                                +44 (0) 20 7220 0500
Matt Goode / Giles Rolls / Alice Lane
 
Tulchan Communications                                                                                           +44 (0) 20 7353 4200
James Macey White / Matt Low
 
 
About Frontier Developments plc
Frontier Developments plc, listed on the AIM stock market (AIM: FDEV), is a leading independent creator of self-published videogame franchises founded in 1994 by David Braben, co-author of the seminal 'Elite' game. Based in Cambridge, UK, Frontier uses its proprietary 'COBRA' game development technology to create innovative videogames for home consoles and personal computers.  Frontier's LEI number: 213800B9LGPWUAZ9GX18.
www.frontier.co.uk
 
 




This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
END
 
 
TSTSSEFMEFASEDW