Aug 26, 2016

    Rovio profits, plans Angry Birds movie sequel


    FINNISH mobile game and animation maker Rovio Entertainment said on Wednesday it made a profit in the first half of the year and was planning a sequel to its successful Angry Birds movie.

    Its adjusted operating profit in the first six months of 2016 was 5.7 million euros (S$8.7 million) compared with a loss of 10 million euros a year earlier.

    Revenue rose 16 per cent on the back of higher game sales.

    The figures do not include profits from its 3D Angry Birds movie. It has earned more than US$347 million (S$470 million) at the box office worldwide since its release in May, Rovio said.

    "We currently have several exciting new games and other projects in development, including new IP, and we have started planning the sequel to The Angry Birds Movie," chief executive Kati Levoranta said.

    Privately-held Rovio financed the first film from its own pocket in a bold bet to revive the ageing Angry Birds brand.

    Last year, the company cut a third of its staff, hived off non-core businesses, changed its CEO and booked an annual loss of 13 million euros.