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SCI ENTERTAINMENT
PLC TRADING UPDATE
Copyright 2006 Eidos plc Press Release
[ July 17th 2006 ]
SCi
Entertainment Group Plc ('SCi'), one of the
world's leading publishers of computer and video
games, today announces a trading update ahead
of the release of its Preliminary Results for
the twelve months to 30 June 2006.
Following
the acquisition of Eidos in May 2005, SCi achieved
its objective of successfully launching all major
products planned for the financial year.
Tomb
Raider Legend was launched in April 2006 on
Sony PlayStation 2, PC, Microsoft Xbox and Microsoft
Xbox 360 and on the Sony PSP in June 2006. The
title reached the number one chart position in
all key territories. In the twelve weeks from
release to 30 June 2006 the Group has sold over
2.9 million units of Tomb Raider Legend on all
formats exceeding its budget expectations.
We anticipate
continued strong sales throughout the new financial
year with the product due to be launched on the
Nintendo DS, Gameboy Advance and Gamecube platforms
later in 2006.
Hitman
Blood Money was launched in May 2006 on Sony
PlayStation 2, PC, Microsoft Xbox and Microsoft
Xbox 360. The title reached the number one chart
position in all key territories. In the five weeks
from release to 30 June 2006 the Group has sold
over 1.5 million units of Hitman Blood Money on
all formats exceeding its budget expectations.
During
the financial year the Group has launched Championship
Manager 2006/07 on Sony PlayStation 2, PC, Microsoft
Xbox and Sony PSP. Consistent high chart positions
in the UK and strong review scores have demonstrated
the strength of the Championship Manager brand.
The Group’s
other major releases in the year have included
Total Overdose,
Conflict
Global Storm, Commandos
Strike Force, Rogue
Trooper and Urban
Chaos. All of these products have achieved
Top Ten chart positions. In addition the Group
has continued to enjoy strong revenues from the
distribution of Lego Star Wars, which has now
sold over 3.5 million units.
With
the success of its product releases, the Group
is confident of achieving the recently upgraded
market expectations of a trading profit (profit
before tax, interest and amortisation) of approximately
£25 million for the year ended 30th June 2006.
Through
a combination of strong trading and good working
capital management, the Group finished the year
with cash of over £30 million, significantly ahead
of market expectations of £15.1 million.
The Group
continues to build its future pipeline of products
for the 2007 and 2008 financial years. We currently
have nineteen new product launches planned for
2007 including: Tomb
Raider 10th Anniversary, Lego
Bionicle, Reservoir
Dogs and Just
Cause. This compares to nine new releases
in 2006.
2007
revenues will be further supported by a number
of distribution titles, including our recently
announced arrangements with Warner Brothers Interactive
to distribute Justice
League Heroes, Tom and Jerry and 300 March
to Glory.
Our New
Media division, which includes mobile and on-line
entertainment, continues to grow and we anticipate
that it will make an increasingly important contribution
to the Group's performance.
Jane
Cavanagh, CEO of SCi Entertainment Group plc,
said, ‘We are delighted with the progress that
the Group has made during the year and the successful
programme of product launches. Looking forward,
we have an even more extensive portfolio of new
products to come to market and are therefore optimistic
about the Group’s prospects for the future.’
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