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Konami Group Net Profit Plunges 78.3 percent

Konami has announced that its group net profit fell 78.3 percent year-on-year for the first half as sales of its high profit margin Yu-Gi-Oh card game lost appeal.

Group net profit dropped to $20.74 million from $94.64 million for the six months through September, despite total sales rising nearly 20 percent to $725.48 million. Growth in sales of its video games for Playstation 2 and Nintendo’s Gameboy Advance could not offset a sharp decline in operating profit in its card game business. The weaker performance came as little surprise to the market as it was in line with the game maker’s forecast in August of interim net profit of $20.34 million, revised down from an earlier forecast of $77.31 million.

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