Eidos Preliminary Results Show Profit

Officials from Eidos Interactive announced the company’s preliminary results for the year to 30 June 2003. The company saw a return to full-year profitability with a £17.4 million ($27.4m) profit before tax and a £13.9 million ($21.9m) operating profit before good will and exceptional items. Turnover also increased by 30% to £151.5 million ($238.2m), as did gross profit margins by 59%. The four key titles responsible for the upswing during this period were Hitman 2, TimeSplitters 2, Championship Manager 4 and Tomb Raider: The Angel of Darkness. Controversially, Eidos insisted on altering the release date of Tomb Raider: The Angel of Darkness to ensure that it was reported during this financial period, but the product garnered negative reviews and consumer comments, possibly because it was released too soon. From a business perspective though, the move seems to have been entirely successful.