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SCI Entertainment (EID)

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Tuesday 11 November, 2008

SCI Entertainment

Interim Management Statement

RNS Number : 8716H
SCI Entertainment Group PLC
11 November 2008
 



11 November 2008


SCi Entertainment plc ('SCi' or 'The Company')


Interim Management Statement


SCi Entertainment Group plcthe holding Company of Eidos Interactive Limited, creator of some of the world's leading videogame properties including Tomb Raider, Hitman, Deus Ex, Championship Manager and Kane & Lynch, is publishing its Interim Management Statement for the period from 1 July 2008 to 11 November 2008, in accordance with the UK Listing Authority's Disclosure and Transparency Rules.


The financial year has commenced in line with our expectations. As planned, no major products were launched in this period with the majority of revenues derived from the continued sell through of back catalogue titles and distribution of third party products. 


Tomb Raider: Underworld will be released to plan on 18 November in North America and 21 November in Europe on the major platforms of Xbox 360, PLAYSTATION 3, Nintendo Wii, Nintendo DS and PC Games for Windows. A PlayStation 2 version is also due for release in the New Year. The much anticipated eighth instalment in the Lara Croft franchise is the first to be led by development on current generation technology and is the first Christmas release since the year 2000Despite the challenging economic environment we believe the game will perform to our expectations and we are pleased with the initial feedback. As we move through the launch of Tomb Raider: Underworld our level of working capital will increase, covered by our £25m committed debt facility, before decreasing as we receive income from the game. 


During this reported period Robert Brent joined the Company as Chief Financial Officer. Two Non-Executive DirectorsAaron Brown and Kevin Tsujihara, stood down from the Board.


We shall be updating the market on trading in January when we will have information on the performance of Tomb Raider: Underworld. The Company's Annual General Meeting will be held at 12 noon on 2 December at the offices of KBC Peel Hunt Ltd, Old Broad Street, London EC2N 1PH



For further information:


SCi Entertainment Group Plc    020 8636 3000

Robert Brent, CFO 



Madano Partnership                  020 7593 4000

Mark Way/Graham Moonie



About SCi Entertainment Group plc

SCi Entertainment Group is the holding Company of Eidos Interactive, creator of some of the world's leading videogame properties. The Group consists of several development studios including Crystal Dynamics, Io Interactive, Beautiful Game Studios, Eidos Game Studios and Eidos Montreal as well as sales and distribution offices in Europe and the US. The Group has a valuable portfolio of intellectual property including: Tomb Raider, Hitman, Deus Ex, Championship Manager and Kane & Lynch.  

www.sci.co.uk

Forward looking statements 
Certain statements made in this announcement are forward looking statements. Such statements are based on current expectations and are subject to a number of risks and uncertainties that could cause actual results to differ materially from any expected future events or results referred to in these forward looking statements. The Company does not undertake any obligation to update or revise any forward looking statements, whether as a result of new information, future developments or otherwise.



This information is provided by RNS
The company news service from the London Stock Exchange
 
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