An award-winning British video game developer has reassured shareholders regarding its financial performance, affirming it is on track with expectations. AIM-listed Codemasters issued this statement in response to recent share price movements on the London Stock Exchange.
Codemasters, known for its racing games such as DiRT, GRID, and the BAFTA award-winning F1 series, confirmed that its trading for the year to date aligns with its projections. The company reported a revenue of £35.5 million for the five months ending in August 2018, inclusive of sales from Onrush, F1 2018, and its extensive back catalogue of games.
The company stated, “The company’s financial performance in the year to date, together with the future contribution expected from both existing games and planned game launches in the remainder of the financial year, support the board’s full year expectations.”
In related news, the Home Secretary has called on tech giants to intensify efforts to combat child sexual abuse online. Sajid Javid demanded that companies implement more robust measures, warning of impending legislation should they fail to act. He acknowledged some progress from companies like Google, Facebook, Microsoft, and Twitter but insisted more needed to be done. Recent figures illustrate a 700 per cent increase in referrals of child abuse images to the National Crime Agency (NCA) over the past five years, with the NCA estimating around 80,000 individuals in the UK pose a sexual threat to children online.
In another development, Microsoft will be removing certain Snapchat-style features from Skype following user complaints. The messenger service’s updates last year were met with criticism, leading to the decision to eliminate the ‘highlights’ feature and simplify the interface. Microsoft acknowledged, “This past year we explored some design changes and heard from customers that we overcomplicated some of our core scenarios. Calling became harder to execute and Highlights didn’t resonate with a majority of users.”
Additionally, a North West thermal engineering firm has utilised virtual reality to improve productivity. Genlab, with support from a European-funded programme, developed a virtual replica of its factory to analyse potential efficiency improvements. This VR simulation has reduced product assembly time by 30 minutes, resulting in a 5 per cent productivity increase and the potential to boost annual output by 20 per cent. Phil Crompton, finance director at Genlab, stated, “This collaboration has enabled us to review our internal structure quickly and easily, without risk or interruption to our daily operations. Factory simulation has validated our ambitions to grow the business and our presence in Widnes and the wider Liverpool City Region.”
These developments reflect ongoing efforts in various sectors to address operational challenges, enhance efficiency, and meet crucial societal responsibilities. Each initiative underscores a commitment to progress and adaptation in an ever-evolving landscape.