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01 Apr 2019 | 09:38

Codemasters Group expects earnings to top market expectations

Codemasters Group Holdings said it expected full-year earnings to top market expectations as strong momentum continued in the second half of the year. Trading through the second half of the year had continued to be strong with the company anticipating to report FY19 revenues of about £71m, Adjusted earnings (EBITDA) of £18.5m and gross cash of £18.4m as at 31 March 2019. The adjusted EBITDA was ahead of market expectations, the company said. 'This outperformance has been driven both by an increasing proportion of the Company's revenues being generated through digital channels and also an earlier than anticipated delivery of technology and support for the Netease project, which will result in a greater than expected portion of the contracted revenue being recognised in FY19,' the company added. Codemasters intended to publish its final results for the year ended 31 March 2019 in June 2019.

At 9:38am: (LON:CDM) Codemasters Group Holdings Plc Ord 1p share price was +6.08p at 244p

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