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[ December 12th 2001 ]

Eidos says it's confident of turning around its peformance after revealing downbeat interim results. Pre-tax profits at the firm behind Lara Croft fell to 27.4 million, from 28.3 million. Turnover decreased to 31 million, from 54.3 million.

The company says the launch of Microsoft's Xbox, allied with the improved performance of PlayStation 2, will boost its market share. Eidos' s shares dipped yesterday over fears its current key title - a game based on Who Wants To Be A Millionaire - might lose out in Christmas sales to a rival game based on the Harry Potter books.

Chief executive Michael McGarvey has cut marketing costs and started developing more games internally to save money and avoid delays. He said: "We released fewer new titles in the period compared to the prior year and some of these performed below expectations, leading to a reduction in turnover compared to the same period last year. We believe we are well placed to benefit in the medium term from the growth potential that exists in the entertainment software market."

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