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BIGBEN INTERACTIVE : TURNOVER FOR THE 3RD QUARTER OF 2014/2015: EUR73.9 MILLION, UP 3.0%
Press Release
Lesquin, 19 January 2015, 6 pm
Turnover target at EUR190 Million
with current operating profitability impacted by the falling Euro
During the third quarter of the 2014/2015 financial year (from 1 October to 31 December 2014), a crucial period for the company that accounts for some 40% of turnover, Bigben Interactive achieved a turnover of EUR73.9 M, up 3.0 % over the same period of the previous financial year.
This performance was essentially achieved thanks to the Group's Core Business which came to EUR70.2 M (up 2.8% over the previous year):
Continuing sales success with Turtle Beach headsets cushioned the slowdown in the Gaming Accessories sector (EUR14.3 M, down 10.1% over the previous year).
Furthermore, digital sales of video games continue to progress well with a catalogue that is growing by the month.
Distribution, a non-core activity with an unpredictable sales trend, achieved a turnover of EUR3.7 over the period, up 6.7% over the previous year.
The Group is confident that sales are going the right way after three successive quarters of growth and therefore forecasts an annual turnover of EUR190 M.
Bigben Interactive optimised its product mix during the first nine months of the 2014/2015 financial year in order to improve margins and continued a strict management of overheads. These actions have, as expected, ensured a considerable improvement in annual profits. These profits should however be impacted by EUR4.0 M due to the one-off effect of the considerable fall in the Euro against the US Dollar.
In due consideration of the above, Bigben Interactive Group is now lowering its previous forecast of a Current Operating Income in excess of EUR8 M. Bigben Interactive will disclose a new target upon its 4 quarter sales release.
Lower oil prices and the related fall in the cost of plastic based purchases bring the Group an opportunity to improve its production costs. Excluding any exchange rate effect, the Group intends to strengthen its actions to maximise value added and thereby improve its profitability during the coming financial year.
Copyright GlobeNewswire
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