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Profits surge at gaming company Codemasters ahead of takeover

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British video game company Codemasters has doubled its revenue and grown profits by 69% as it launched three new racing games.

The Midlands-headquartered company, which is best known for the Dirt Rally series and Formula 1 licences, has a studio in Runcorn.

It turned over £80.5million in the six months to September 30th, up from £39.8m last year, while operating profits were up from £12m to £20.3m.

Codemasters – which launched F1 2020, Fast & Furious Crossroads and Project CARS 3 during the period – recently confirmed it plans to sell to US giant Take-Two after it received a takeover bid valuing it at £739million.

Frank Sagnier, CEO of Codemasters, said: “I am delighted to report a record first half in which we benefitted from three game launches, including our most successful iteration of the F1® franchise.

“We continued to make significant progress against our strategic objectives, to strengthen the Group’s overall leadership position in racing, grow the audience and increase average revenue per user.”

He added: “The offer received from Take-Two Interactive Software, Inc post-period end demonstrates the strength of our offering and our reputation as leaders in the racing genre.”

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