Starbreeze generates £8.4m profit in last six months

Starbreeze generates £8.4m profit in last six months
Craig Chapple

By Craig Chapple

February 28th 2014 at 11:17AM

Payday 2 performs strongly to generate profits after accumulated company losses of £8.8m in previous 15 years

Swedish developer Starbreeze made profits of over £8.4m after tax for the six months ending December 31st, the studio has revealed.

The company's growth in the last year has been huge when compared to the prior 15 years, in which the company accumulated a total loss of £8.8m.

Net sales for the last six months amounted to £12.1m, £9.7m more than in the same period the year before.

Improved earnings are thanks largely to the firm's acquisition of Overkill in 2012, and the subsequent release of Payday 2 from the developer. The shooter proved a massive success, making up £11.3 million of total net sales.

Brothers - A Tale of Two Sons meanwhile brought in £149,000 in sales.

Starbreeze CEO Bo Andersson Klint said he could now continue to move the firm away from a "survival" strategy, and toward sustained growth, profits and bringing further value to its own IP.

"We now have a large cash reserve, have created a stable cost structure, a modern business model, we have continued full control of our own brands and have placed ourselves into a position where we have three games that generate royalties every single day," he said.

"Brothers - A Tale of Two Sons continue to be loved by players and press alike. Payday 2 and its predecessor Payday: The Heist continues to generate new interest and new revenue streams. We are also continuously working on actively creating more income sources around the brand Payday through games, merchandising and spin-off products."