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French publisher Ubisoft enjoys net income of 69 million euros (£60 million) during its 2008-09 financial year...
Ubisoft has published its financial results for the 2008-09 fiscal year and, at a time when the EAs, Sonys, and SEGAs of this world are posting huge losses, the French publisher is reporting that it's in profit for the year with a net income of 69 million euros (£60 million).
The company also enjoyed a 14% increase in revenues over last year's figures, with total sales coming in at just over 1 billion euros (£921 million). Despite this increase, net income took a slide over last year's results, dropping from 110 million euros (£96 million) to 69 million euros (£60 million).
Given this drop in net incomes, operating income wasn't hit quite as badly with a shortfall of just 18 million euros (£16 million) from 132 million euros (£114 million) in 2007-08 to 114 million euros (£99 million) this year.
Ubisoft also set forecasts for the current 2009-10 fiscal year, for which the company aims to reach 1.1 billion euros (£957 million) in sales over the whole year, 95 million euros (£83 million) of which will be during the first quarter.
"Ubisoft ended fiscal 2008-09 with full-year sales growth of 18.4% at constant exchange rates, the second best profitability among comparable companies in its industry, and a 5.1% rise in net income excluding non-recurring items and before stock-based compensation," said Yves Guillemot, Ubisoft's Chief Executive Officer. "This performance illustrates Ubisoft's unique business model with cost-competitive development studios and some of the most talented developers in the industry. It enables the Group to be at the leading edge of innovation and offer superior quality games, while maintaining a high level of profitability."
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