Video game developer and publisher Codemasters reported a rise in first-half profit on higher revenue, driven by new game launches.
For the six months ended 30 September 2020, pre-tax profit rose to £20.5 million from £10.6 million year-on-year as revenues climbed to £80.5 million from £39.8 million.
The jump in reveneu was driven by 'the release of F1 2020, Fast & Furious Crossroads and Project CARS 3 coupled with the continued strength of the Group's back catalogue,' the company said.
The company said trading in the second half of the year had 'begun well, and touted further games to be launch over the next two years.
Project CARS GO was scheduled for release in H2 2021, while three new titles were expected to be launched in H1 2022, including the first iteration of the F1 franchise on the next generation consoles, the company said.
The company said it intended to recommend unanimously that Codemasters' shareholders vote in favour of the take offer from Take-Two Interactive.
It is anticipated that the takeover will complete in the first quarter of 2021.
At 9:38am: (LON:CDM) Codemasters Group Holdings PLC share price was 0p at 475p
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