Ubisoft raises profit forecast after strong quarterly sales

PARIS Thu Feb 7, 2013 11:20am EST

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PARIS Feb 7 (Reuters) - French videogames publisher Ubisoft has raised its sales and profit forecasts for the current financial year after reporting strong demand for games such as Assassin's Creed 3 and Far Cry 3 over the crucial Christmas season.

The group now expects to post an underlying operating profit of 90-100 million euros for the year ending March 31, up from a previous forecast of 70-100 million euros, it said in a statement on Thursday.

Sales are seen coming in at 1.24-1.26 billion euros, compared with a previous forecast of 1.20-1.26 billion euros.

Third-quarter sales rose 23 percent to 802 million euros, beating the group's own forecast of 740-800 million, and the company said it was also optimistic for the new fiscal year, forecasting "further growth in both sales and current operating income." (Reporting by Dominique Vidalon; Editing by Greg Mahlich)

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