Square Enix Report £88 Million Annual Loss

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It seems even Hitman: Absolution and the more recent Tomb Raider were not enough to help Square Enix as they have reported a staggering £88 million pound annual loss.

The loss, for the fiscal year ended March 31 says it was down to unexpected low sales of key titles and the implementation of costly restructuring plans.  It was down from a 3.5 billion yen profit forecast last October and six million the year before.

However, company-wide sales saw a rise of 15.7% year-to-year of £948 million. Square Enix’s digital entertainment section which is home to their games business had sales of £569 million which was up 24.5% year-on-year. However, their operating income was decreased my a major 99.7% down to £281 thousand.

Square Enix had however said the performance of their smartphone and browser titles including Final Fantasy Brigade and Kaku-San-Sei Million Arthur had done very well.

Square Enix has also stated that they expect that when they release their next annual results next year, they will be back to profit. quare Enix president Yoichi Wada is set to resign next month with his replacement, Yosuke Matsuda taking over the realms.

Let us know your thoughts on these results via the comment section below.

Source: CVG

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