Gamevil posts record annual sales

Gamevil posts record annual sales
Seth Tipps

By Seth Tipps

February 19th 2013 at 8:01AM

Fiscal year 2012 shows 64% growth for mobile publisher

Gamevil has revealed its full-year earnings for 2012.

The South Korean mobile publisher has been growing steadily and this year was no exception, showing a 64 percent jump from 2011.

Fourth quarter revenues were up 32 percent year-on-year to 21.8 billion KRW ($20.2 million/£13 million).

Net income totaled 6.5 billion KRW ($6 million/£3.9 million), a rise of 12.3 percent.

The full year produced a whopping 70.2 billion KRW ($64.8 million/£41.9 million) in revenue - a record high for the company - giving an annual net income of 22.4 billion KRW ($20.7 million/£13.4 million).

Third party titles accounted for 44 percent of the company's revenue, almost double that of last year, and international sales skyrocketed by 153 percent to 27.4 billion KRW ($25.3 million/£16.3 million) - accounting for 39 percent of total sales.

"With strong foundations in a worldwide userbase and strategies for the ever changing mobile game market, we are directing our efforts to continue being a major global player in this mobile gaming industry," said Gamevil chief financial officer Yong Kuk Lee.