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(Sharecast News) - Frontier Developments said in an update on Wednesday that it expects to report full-year revenue of around £90m for the 12 months ending 31 May, ahead of analyst expectations, following solid performance across its games portfolio.
The AIM-traded video game developer also said profitability and cash generation would exceed prior forecasts, supported by a £3.5m gain from the sale of publishing rights to Stranded: Alien Dawn, which would not be recorded as revenue.
It said it would release a full trading update on 11 June, including a presentation for analysts and institutional investors.
At 1030 BST, shares in Frontier Developments were up 8.99% at 248.5p.
Reporting by Josh White for Sharecast.com.
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