Frontier Development PLC — Regulatory Filings 2017

Apr 19, 2017

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RNS Number : 6564C

Frontier Developments PLC

19 April 2017

19 April 2017

Frontier Developments plc

Trading Update

FY2017 Ahead of Expectations

Frontier Developments plc (AIM: FDEV; "Frontier" or the "Company"), a leading independent creator of video games, is pleased to announce an update on trading for the financial year ending 31 May 2017 (FY17).

Revenue and profit for the current financial year are now projected to be ahead of the Board's expectations.  This is due to strong sales following a successful November and December Holiday period combined with a positive Easter weekend.  The performance of both current franchises, Elite Dangerous and Planet Coaster, has been helped by a continuing roadmap of updates, delivering additional content, improvements and extensions.

The Board now expects revenue for the financial year ending 31 May 2017 of approximately £36 million, which would represent a 68% increase over the prior year.  The Board anticipates that the Company will achieve an operating profit margin (as reported under IFRS) of 15-20% for FY17, compared to 6% and 7% recorded for FY16 and FY15 respectively. 

The Company expects to report its full audited financial results in September 2017.

David Braben, Chief Executive of Frontier Developments, said:

"The launch of Planet Coaster has driven a step up in our financial performance, and we now have two strong franchises in the market following our successful transition to self-publishing.

We anticipate further significant revenue growth steps will be driven by the release of new franchises - our third franchise, based on an enduring Hollywood movie IP of global renown, is now in development for release in calendar 2018."

Enquiries:

Frontier Developments	+44 (0)1223 394 300
David Braben, CEO
Alex Bevis, CFO
David Walsh, COO
Numis - Nomad and Joint Broker	+44 (0)20 7260 1000
Simon Willis / Jamie Lillywhite (Nomad) / Toby Adcock
Finncap	+44 (0) 207 220 0500
Matt Goode/Giles Rolls
Tulchan Communications	+44 (0) 207 353 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, Frontier uses its proprietary 'COBRA' game development technology to create innovative games, currently focusing on videogame consoles and personal computers.

www.frontier.co.uk                     

About Elite Dangerous

Elite Dangerous - available for Windows PC, Apple Macintosh, Microsoft Xbox One and coming to Sony Playstation 4 in 2Q 2017 - is the definitive massively multiplayer space epic, bringing gaming's original open world adventure to the modern generation with a connected galaxy, evolving narrative and the entirety of the Milky Way re-created at its full galactic proportions.

www.elitedangerous.com

About Planet Coaster

Planet Coaster - available for Windows PC - builds on Frontier's genre-defining expertise with coaster park games such as RollerCoaster Tycoon 3 and Thrillville. It further raises the bar for this popular genre, allowing players to let their imaginations run wild as they surprise, delight and thrill incredible crowds, and share their success with the world via the Steam Workshop community.

www.planetcoaster.com

This information is provided by RNS

The company news service from the London Stock Exchange

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