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EIDOS REPORTS FURTHER LOSSES
Copyright 2001 www.bbc.co.uk

[ May 31st 2001 ]

The extraordinary powers of Lara Croft failed to prevent UK computer games maker Eidos doubling its losses for the year to March to 21m. The worsening performance reflected an industry-wide downturn, as consumers waited for new consoles such as the Sony Playstation 2 to hit the market, the company said. But the losses were stemmed by the new Who wants to be a Millionaire? title, which has become one of the best selling games in UK history.

Eidos will release 20 titles this year, but there will not be a new version of its popular Tomb Raider series with Lara Croft despite the release of the film. "The Tomb Raider film is due for release by Paramount in June in the US and July in the UK and we expect this will build further awareness of the franchise in the mass market," said Eidos chief executive Michael McGarvey. Eidos' full year results showed an loss before interest, tax, write-downs and exceptional items of 20.9m, versus a loss of 9.7m the previous year. The company expects to return to profit in the current financial year.

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