Square Enix reports £42m net loss

Rocky Nov 6, 2012

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    Rocky Guest

    Square Enix on Tuesday reported a net loss of £42,730,000

    Final Fantasy publisher Square Enix has told investors it may announce a loss of about £42 million when it reports on trading for the first half of its financial year.

    The group forecasts sales of about £475 million (it's currently tracking £450m), but it expects to report a significant loss when factoring in operating expenses, softness in HD game sales and punishing exchange rates.

    As well as a weakened arcade business in Japan, Square Enix admits that "sales of a major HD game title have been growing at a slower pace than expected".

    Square Enix on Tuesday said Sleeping Dogs shipped 1,510,000 copies in the six months ended September 30.

    Though the company did not specify which game, its biggest release this year was the new IP Sleeping Dogs, a title which stood atop the UK charts for a number of weeks and, during August, was the best-selling game in the US with 172,000 copies shifted.

    Square Enix expects its full year profit to come in at about £27 million.

    Source - CVG
    Last edited: Nov 6, 2012

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