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.
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