Rovio reports Angry Birds games growth again (updated)

Rovio Entertainment Oyj

11/02/2022 07:56

(Adds detail, outlook, dividend)
    Feb 11 (Reuters) - Finnish game maker Rovio  ROVIO.HE , best
known for its Angry Birds franchise, on Friday reported a rise
in its fourth-quarter operating profit, boosted by growth from
its top three games.
    "All our top three games Angry Birds 2, Angry Birds Dream
Blast and Angry Birds Friends grew year-on-year," the
Helsinki-based mobile game maker said.
    Rovio said it expects strong top line growth for the year
but its adjusted operating profit to decrease year-on-year due
to investments in new games development and marketing.
    Rovio is seeking growth from diversifying its portfolio,
having acquired Turkish Ruby Games in August and by partnering
up to create new mobile games for Moomins, cartoon characters
originally popular from a series of books and a comic strip.
    "We continue our M&A efforts, aiming to build new growth
avenues within casual games, grow our audience network, and
establish value through synergies across our game portfolio and
studios," Rovio Chief Executive Alex Pelletier-Normand said in a
statement.             
    Rovio reported underlying operating profit of 13.1 million
euros ($14.90 million) for the October-December quarter, up
around 75% from a year earlier.
    Rovio's board proposed a dividend of 0.12 euros per share.
    ($1 = 0.8793 euros)

 (Reporting by Anne Kauranen; editing by Jason Neely and David
Evans)
 ((anne.kauranen@thomsonreuters.com; +358401895560;))