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Frontier Developments PLC  -  FDEV   

Trading Update

Released 07:00 02-Mar-2016

RNS Number : 7126Q
Frontier Developments PLC
02 March 2016
 

2 March 2016

 

Frontier Developments plc

 

Trading Update re delay in product release dates

 

Frontier Developments plc (AIM: FDEV, "Frontier", the "Group"), a leading developer of video games, announces that following a review of the development of the next stage of Elite Dangerous: Horizons ("EDH"), the Board of Frontier has determined that this will take place after the end of the current financial year, being 31 May 2016.

 

As previously announced, EDH was initially released in 'early access' in December 2015.  Coming out of 'early access' was originally expected to take place during April 2016, coinciding with the planned launch of EDH's next expansion, "The Engineers".  However, this - along with associated revenues - will now take place in the first half of the next financial year.

 

Therefore, second half revenues will be substantially below prior expectations.

 

Commenting on this David Braben, CEO said

 

"Over a number of years, Frontier has established an outstanding track record of meeting demanding release schedules and exceptional quality thresholds, so this delay is disappointing.  However, it is absolutely critical for the longer-term success of the Elite franchise that we maintain our absolute commitment to quality. Despite this temporary setback, the Board and I remain very excited both by the potential of the Elite franchise and the progress that Frontier is making as it transitions to self-publishing."

 

Enquiries:

Frontier Developments

+44 (0)1223 394 300

David Braben, CEO

David Walsh, COO

Neil Armstrong, CFO

 

 

 

 

Numis - Nomad and Joint Broker

+44 (0)20 7260 1000

Simon Willis/Jamie Lillywhite/Toby Adcock (Nomad)


 

 

 

Finncap

 

+44 (0) 207 220 0500

Matt Goode/Giles Rolls

 

 

 

 

Tulchan Communications

+44 (0) 207 353 4200

James Macey White/Matt Low

 

 

 About Frontier Developments plc 

Frontier Developments plc, listed on the AIM stock market (AIM: FDEV), is a leading independent game developer founded in 1994 by David Braben, co-author of the seminal 'Elite' game. Based in Cambridge, Frontier uses its proprietary 'COBRA' game development technology to create innovative games across videogame consoles, computers, smartphones and tablets.

www.frontier.co.uk 


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Trading Update - RNS