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Jagex posts second consecutive record financial year with revenues up 28% to £74.4 million

Jagex posts second consecutive record financial year with revenues up 28% to £74.4 million

Cambridge-based developer Jagex has posted its second consecutive year of record revenues thanks to its continued efforts on its RuneScape franchise.

The company posted revenues of £74.4 million, up 28% year-on-year from its previous record year. It had generated £57.9 million in 2015.

Profits also increased to £28.8 million after tax, an increase of 21.5% year-on-year. Jagex did not break out any other specific numbers regarding its finances.

Razor focus

"2016 saw RuneScape celebrate its 15th anniversary and we placed a razor focus on evolving and growing both RuneScape and Old School RuneScape," said acting CEO Phil Mansell.

"Through investment in big ticket content, technology, marketing and strengthening the relationship we enjoy with millions of players that form our deeply-engaged community, the team delivered landmark performance by growing active users, conversion rates and subscribers."

The developer is also rebranding as part of its acquisition by Zhongji Holding, now known as Fukong Interactive Entertainment, in September 2016.

Mansell took over as acting CEO due to the departure of Ron Cousens in January 2017. Cousens did not provide a reason for his leaving at the time.

Jagex dipped into the mobile space last year with the release of Hyper Hippo's RuneScape: Idle Adventures, which was also on PC, though it was not specifically called out in the press release on the company's financials.


Editor

Ric is the Editor of PocketGamer.biz, having started out as a Staff Writer on the site back in 2015. He received an honourable mention in both the MCV and Develop 30 Under 30 lists in 2016 and refuses to let anyone forget about it.

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