Sumo Group PLC Trading Update and Notice of Results (5643N)
January 21 2019 - 1:00AM
UK Regulatory
TIDMSUMO
RNS Number : 5643N
Sumo Group PLC
21 January 2019
21 January 2019
Sumo Group plc
("Sumo Group" or the "Group")
PRE-CLOSE TRADING UPDATE AND NOTICE OF RESULTS
FY2018 at least in line with management expectations
Sumo Group is pleased to announce that it expects to report
results at least in line with management expectations for the
financial year ended 31 December 2018 on Tuesday, 9 April 2019.
A number of contracts were secured towards the end of 2018,
which underpin the financial forecasts for 2019. As at 31 December
2018, the Group had positive cash balances of GBP3.7m and employed
592 people, an increase of 103 from the figure at the previous year
end.
Carl Cavers, Chief Executive Officer, said:
"In our first full year since IPO in December 2017, we have
continued to deliver strong growth across all areas of the
business. The Group started 2018 taking on the Newcastle Studio of
CCP Games and, in August, we acquired The Chinese Room, creating
our Brighton Studio. Sumo Group is currently operating globally
from seven studios in three countries and we are planning to
operate from another studio in the UK in the near future.
"We are seeing many exciting opportunities to deliver more
growth in our core markets, served by Sumo Digital and Atomhawk,
and I am very pleased with the progress the business is making. The
Board looks forward to announcing the Group's Final Results and
providing a further update in April."
Enquiries:
Sumo Group plc Tel: +44 (0) 114 242 6766
Carl Cavers, Chief Executive Officer
David Wilton, Chief Financial Officer
Zeus Capital Limited (Nominated Adviser & Broker)
Nick Cowles / Andrew Jones Tel: +44 (0) 161 831 1512
Ben Robertson / John Goold Tel: +44 (0) 203 829 5000
Belvedere Communications Limited
Cat Valentine Tel: +44 (0) 7715 769 078
cvalentine@belvederepr.com
Keeley Clarke Tel: +44 (0) 7967 816 525
kclarke@belvederepr.com
Llew Angus Tel: +44 (0) 7407 023 147
langus@belvederepr.com
About Sumo Group - www.sumogroupplc.com
Sumo Group's businesses provide acclaimed development and design
services to the video games and entertainment industries from
studios in the UK, India, and Canada.
Sumo Digital, as the group's primary business, is one of the
UK's largest independent developers of AAA-rated video games,
having studios in Sheffield, Newcastle, Nottingham, Pune (India),
and the BAFTA award-winning The Chinese Room in Brighton. Sumo
Digital provides turnkey and co-development solutions to a global
blue-chip client base. Atomhawk is a multi-award-winning visual
design company, with studios in Newcastle and in Vancouver
(Canada), servicing the games, film and visual effects
industries.
Together, the Group delivers full-spectrum visual and
development solutions, which include initial visual concepts,
conceiving new products and game development involving all aspects
of pre-production, production & development, as well as
supporting games as a service.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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