EIDOS ANNOUNCES LOSSES OF £18.8M
Copyright 2000 Reuters

[ November 28th 2000 ]

British computer games maker Eidos Plc said on Tuesday it lost 18.8 million pounds before tax, depreciation and amortisation in the first half on sales of 54.3 million pounds. Including exceptionals, however, the losses mounted to 82.3 million pounds before tax, but the company said its full-year results should be in line with market expectations. Exceptional losses of 54.1 million pounds almost equalled sales. It said these included a 16.9 million pound charge for weaker than expected sales of titles released in the previous financial year, and a fall in the value of its $55 million investment in Express.com, a consumer Internet company.

The headline loss compared to analysts' forecasts of around 25 million pounds and last year's loss of 29.3 million. "The financial outcome for the full year, before exceptional items, is anticipated to be in line with market expectations," said Eidos, which has suffered from a string of profit warnings and the breakdown of takeover talks this year. It now says it believes in its potential to continue as a stand-alone company.