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As it considers a new exchange listing, G5 predicts 2012 sales up 72% to $12.3 million

Looking to make the most of opportunities

As it considers a new exchange listing, G5 predicts 2012 sales up 72% to $12.3 million
Swedish/Russian publisher G5 Entertainment (G5EN:Stockholm) has announced its preliminary results for 2012.

With some information still being collated, the company predicts annual sales of around $12.3 million (SEK 80 million), up 72 percent compared to 2011.

Operating profits were around $3.8 million (SEK 25 million), up 42 percent.

A full report will be released on 25 February.

Christmas presents

According to CEO Vlad Suglobov, December was an especially strong period for the publisher, which is focused on mobile free-to-play games including franchises such as Virtual City, Supermarket Mania and Stand O' Food.

December sales were up 60 percent, with Suglobov commenting, "Once again holiday season set another record for G5.

"People around the world unpacked smartphones and tablets they received as gifts and rushed into the application stores to download games. As a result, millions of new players were introduced to G5's large portfolio of family-friendly games, and daily sales set a new record."

Unlocking capital

In addition, in order to help it hit its longterm target of annual sales of SEK 300 million ($45 million), G5 has decided to apply for a listing on the Stockholm NASDAQ OMX exchange in the second half of 2013.

This will increase liquidity in its shares and provide better access to institutional investors.

G5 says as part of the listing process, it will consider whether it needs to raise further investment to ensure it takes full potential of growth opportunities.

As we pointed out in our round up of 2012 shares, G5 Entertainment was the joint best performer, alongside Korean outfit Com2uS. 

[source: G5 Entertainment]

Contributing Editor

A Pocket Gamer co-founder, Jon is Contributing Editor at PG.biz which means he acts like a slightly confused uncle who's forgotten where he's left his glasses. As well as letters and cameras, he likes imaginary numbers and legumes.

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