Ubisoft Hopes To Cut Debts

In a further piece of good news for French publisher Ubisoft it has been announced that the company hopes to cut its debt burden by around 25% by the end of the current financial year. CEO Yves Guillemot has predicted sales growth of between 17 and 22% (compared to the games industry in general at 10 to 15%). This should see the company able to cut its debt by around €40 million ($45m) by March 2004, which will leave the company with only €130 million ($147m) of remaining debt.