Frontier Developments shares jump as it unveils new video game launches
Shares in Frontier Developments jumped this morning after the video game publisher said a string of new titles will help boost full-year revenue.
The Aim-listed firm reported a “strong close” to the financial year, adding that sales across its portfolio of games had hit targets so far in the 2021 fiscal year.
The Cambridge-based gaming group said it was on track to hit the top half of its current full-year revenue projections of between £83m and £95m.
The upbeat forecast pushed shares up more than eight per cent in early trading.
It came after Frontier last night unveiled three new video game titles, which the firm hopes will drive higher sales.
The firm’s hit Jurassic World Evolution game, which is currently available on PC, PS4 and Xbox One, will also be released for Nintendo Switch in November.
In addition, Frontier Foundry — the company’s new games label for third-party publishing — unveiled its first two titles: Lemnis Gate and Struggling.
The new releases come on top of new versions of its existing titles, including Elite Dangerous, Planet Coaster and Planet Zoo.
Chief executive David Braben said: “Our team has done an amazing job developing strong releases for all four of our existing titles, and I am also looking forward to seeing the reaction to our first two Frontier Foundry games — Struggling and Lemnis Gate.”