EIDOS INTERACTIVE
CONFIDENT OF UPTURN
Copyright 2001 www.ananova.com
[ 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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