November 16, 2018 / 6:53 AM / in 24 days

Angry Birds maker Rovio Q3 profits rise, full-year sales to fall

HELSINKI, Nov 16 (Reuters) - Rovio Entertainment, the maker of the “Angry Birds” mobile game series, reported on Friday growing quarterly profits but said its sales will nevertheless fall in the full year due to tight competition and high marketing costs.

The Finnish company, which listed its shares last year, reported third-quarter adjusted operating profit of 10.4 million euros ($11.8 million), up from 4.0 million euros a year ago.

Rovio specified its full-year outlook, saying it expects 2018 sales between 280 and 290 million euros, compared to a previous range of 260 and 300 million euros. Last year the company made a revenue of 297 million euros.

Full-year core operating profit margin is seen at 10-11 percent, up from a previous view of 9-11 percent. ($1 = 0.8818 euros) (Reporting by Jussi Rosendahl and Anne Kauranen)

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