Frontier Developments expects to report record annual revenues

Videogames publisher Frontier Developments expects to report record annual revenues of roughly £89m from its recently wrapped up trading year - more than two and a half times what it witnessed in its previous financial year.

Frontier told investors on Tuesday that its substantial growth in revenue reflected the success of Jurassic World Evolution, its third self-published title, which launched in June 2018, combined with the ongoing performance of its first two self-published titles.

The AIM-listed group also expects to report an operating profit margin of approximately 21% for the year when it posts its full financial results in early September 2019 - ahead of the 8% recorded a year earlier.

Chief executive David Braben said: "We have had our best ever year in terms of our financial performance, which is a testament to the skill and hard work of our amazing team, our strategy of nurturing our titles post-launch over many years, and to the ongoing support of our worldwide communities of players.

"We are also making great progress with our Frontier Publishing initiative, with our first partnership announced last week, with highly experienced developers Haemimont Games. We are in an excellent position for the future."

As of 0845 BST, Frontier shares had climbed 8.24% to 1,194.92p.