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The BBC's Victoria Ellis
"Lara Croft is Eidos at it's best"
 real 28k

Tuesday, 13 June, 2000, 08:12 GMT 09:12 UK
Eidos woes confirmed
Lara Croft
Eidos profits have suffered
Troubled UK computer game maker Eidos has confirmed its dismal year.

The maker of Tomb Raider reported full-year operating losses of 26.8m, compared with operating profits of 39.2m the previous year.

The creator of Lara Croft had issued two profit warnings during the year, with investors well prepared for the bad news.

The company blames the losses on increasing competition in the video games market.

It said sales were down by 14%.

Pre-tax profits were helped by a one-off profit of 80mn from the sale of investments, and came in at 49.3m, up from 37.9m last time.

Longer term hopes

Eidos added that it saw no reason to expect circumstances to improve materially before the next generation of game platforms were properly established in the market.

The firm said that although profitability would be affected in the short term, the industry was expected to grow over the medium and longer term.

Over the last year, the group launched 24 new titles, and said it was satisfied with the performance of many of the nine titles released in the last quarter.

Titles including Resident Evil 3 and Resident Evil: Survivor and Final Fantasy VIII saw success in the retail charts, it said.

Eidos said it had ten PlayStation 2 titles in development and was working with Microsoft and Nintendo to support their new consoles, expected to be released in late 2001.

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See also:

18 Jan 00 | Business
Is Lara Croft losing her touch?
03 Sep 99 | The Company File
Lara Croft can't save Eidos's profits
28 Feb 00 | Business
Lara's firm battles on
24 Mar 00 | Business
Lara suffers withering blow
24 Nov 99 | Business
Losses double at Eidos
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