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Big losses at Tomb Raider firm

15 September 08 11:53 GMT

The UK company that makes the Tomb Raider computer games has seen its annual losses widen to £136m, following a year of major restructuring.

SCI Entertainment's pre-tax loss for the 12 months to 30 June compares with £30m a year earlier.

The games firm announced 260 job losses - a quarter of its staff - in February.

SCI says it is now better placed to benefit from the booming games market. The latest instalment in the Lara Croft saga is released next month.

The firm hit trouble last year when it warned that profits would not meet expectations.

It began talks with potential buyers, but at the beginning of this year it announced that those discussions had collapsed.

It was then that Phil Rogers took over as chief executive from the company's founder, Jane Cavanagh.

SCI's annual revenues have fallen from £129m to £119m.

"Revitalised operation"

"The 2008 results reflect a year in which we took decisive action to transform our business," said Mr Rogers.

"We have emerged as a stronger business and over the next year we will see the results of our restructured and revitalised operation."

The November release of Tomb Raider: Underworld will be followed by computer games including Just Cause 2, Championship Manager 09, and Batman: Arkham Asylum.

In a separate announcement, a major rival to SCI, Electronic Arts said it had decided not to continue takeover talks with the games company, Take-Two Interactive.

Take-Two Interactive, that makes the top selling computer game Grand Theft Auto, said it was now considering its options.

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