South Korean publisher Gamevil (KDQ:063080) has posted net profits of 3.8 billion Won (around $3.5 million) in the firm's Q2 2011.

This is up almost 12 percent when compared to the same quarter in 2010.

Sales were also up across the quarter, hitting 9.8 billion Won ($9 million) – a rise of more than 46 percent year-on-year.

As a result, the company has pitched the quarter as a huge success, touting both its strength on smartphones – sales up 259 percent to 6.1 billion Won ($5.6 million) and representing 62 percent of the quarter's entire revenues.

Odds on overseas

In particular, Gamevil continues to push its presence in western territories. As in previous quarters, consolidated overseas revenue is up 34 percent, with the likes of Air Penguin hitting top spot on the App Store in the US.

"The second quarter result shows that Gamevil has successfully transformed to a publisher for smartphones, which are the driving force of the mobile landscape.” said CFO and executive VP Yong Kuk Lee.

"We will continue to meet the challenges of this evolving market head-on, with new quality titles and more partnerships across diverse platforms including Apple App Store and Google Android Market."

As such, Gamevil says it expects similar levels of success from the $10 million it recently set aside to foster titles from third party studios.

Announced in June with 10 partnerships already signed, early hits include series such as Colosseum and Cartoon Wars.

[source: Gamevil]