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Gameloft sees H1 2013 sales up 15 percent to $142 million

Legacy Java business still strong at 39% of revenue
Gameloft sees H1 2013 sales up 15 percent to $142 million
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Gameloft (EPA:GFT) has announced its H1 financials for the six months ending 30 June 2013.

Consolidated sales were €109.4 million (around $142 million), up 15 percent year-on-year.

On a constant currency exchange basis, however, growth was down slightly to 12 percent.

In terms of the Q2 April to June period, sales were €55.2 million (around $72 million).

This is up 10 percent year-on-year.

In contrast, Gameloft's Q1 sales were up 21 percent.

All around the world

Gameloft's sales are well distributed globally.

EMEA is strongest market with 33 percent of sales, followed by North America with 25 percent, Latin America at 23 percent and APAC at 20 percent.

Obviously, the main engine of growth are smartphones and tablets. The category was up 45 percent across the six month period, representing 61 percent of sales.

80 percent of this - $69 million - is generated from in-app purchases and advertising.

Flip reverse it

Of course, this also means that Gameloft's legacy Java games business continues to be strong, accounting for 39 percent of sales.

But the company is getting better at the free-to-play business, with 125 million users playing a Gameloft game during the past month.

Film tie-in Despicable Me: Minion Rush has been a big driver of this growth, with more than 65 million downloads since its launch in June - as we pointed out in our recent Charticle.

Gameloft expects to have full year 2013 sales of between €235 million and €240 million (around $305 to $312 million), as well as an increase of profitability and net cash.