Codemasters on Schedule to Float
Codemasters set out plan to float shares later this year.
UK software house and publisher Codemasters has set out plans leading toward floating shares in late 2007/early 2008. Rod Cousens, CEO of Codemasters, explained that the recent US distribution deal with Warners is another important step in a three year plan to get the company into shape.
Speaking on the deal Cousens stated:
In 2005 Codemasters turned a £13m loss, but has already turned that into £1.1m profit for the year ending June 30th. Now it's hoping to turn that into a £17m profit for this year, with gross earnings of $170m. That's an ambitious $100m improvement on last year.
Codemasters has a raft of 10 new titles scheduled for Spring. Amongst them are the much hyped Heatseeker and the monster license The Lord of the Rings Online: Shadows of Angmar
Source: MCV
Speaking on the deal Cousens stated:
"We have powerful distribution in North America thanks to the Warners deal and layers of distribution all around the world. We also have a new portfolio of titles suited well to the global market.
"The strategy here is about positioning for an Initial Public Offering at end of this year or beginning of 2008, depending on what market conditions are like."
"The strategy here is about positioning for an Initial Public Offering at end of this year or beginning of 2008, depending on what market conditions are like."
In 2005 Codemasters turned a £13m loss, but has already turned that into £1.1m profit for the year ending June 30th. Now it's hoping to turn that into a £17m profit for this year, with gross earnings of $170m. That's an ambitious $100m improvement on last year.
Codemasters has a raft of 10 new titles scheduled for Spring. Amongst them are the much hyped Heatseeker and the monster license The Lord of the Rings Online: Shadows of Angmar
Source: MCV
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