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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 £3.7m 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.

 

 


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