February 2, 2018 / 10:32 AM / 6 months ago

BRIEF-Artifex Mundi: 2017 Gross Financial Result Lowered By 10 Mln Zlotys Due To Impairment

Feb 2 (Reuters) - ARTIFEX MUNDI SA:

* SAID ON THURSDAY THAT IT WILL BOOK A 5.1 MILLION ZLOTY IMPAIRMENT CHARGE AFTER IMPAIRMENT TESTS OF THREE FREE-TO-PLAY GAMES’ PROJECTS

* THE CHARGE IS COMPRISED OF 69.2% OF ACTIVATED COSTS OF ‘NIGHTMARES FROM THE DEEP: A HIDDEN OBJECT ADVENTURE’ AND ‘KATE MALONE: HIDDEN OBJECT DETECTIVE’ PROJECTS

* IT FINDS THAT THE TWO PROJECT HAVE THE MARKET POTENTIAL AND WILL CONTINUE TO DEVELOP THEM

* MANAGEMENT ALSO DECIDED TO SUSPEND PRODUCTION OF “SPELLBLADE: MATCH-3 PUZZLE RPG” WHICH RESULTED IN 0.8 MILLION ZLOTY IMPAIRMENT

* ABOVEMENTIONED IMPAIRMENTS TOGETHER WITH THE ONES ANNOUNCED ON DEC. 29 WOULD LOWER FY 2017 GROSS FINANCIAL RESULT BY 10 MILLION ZLOTYS

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Further company coverage: (Gdynia Newsroom)

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