 surged by over 7% on Wednesday's opening following a trading update for the six months ended 30 September 2020. ){kind=link}
Codemasters shares (LON: CDM) surged by over 7% on Wednesday’s opening following a trading update for the six months ended 30 September 2020.
The video game developer said that trading was strong throughout the first half of the year, with revenue increasing from £39.8m last year to £80.5m.
Digital sales accounted for 73% of total sales in the period, which was also boosted by the release of Fast & Furious Crossroads and Project CARS 3.
Codemasters said in a statement: “As anticipated, the performance of the Company’s back catalogue continues to be strong thanks to the accelerated growth of the digital business reflecting the longer lifecycle of high-quality products and well-established IP, together with the ever-increasing number of digital channels for exploitation. The Board expects digital growth to continue with future releases.”
The group expects to release results for the six months ended 30 September 2020 on 23 November 2020.
Codemasters shares (LON: CDM) are currently trading up 7.24% at 385,00 (0951GMT).