PARIS, May 16 ― French video game producer Ubisoft, developer of the Assassin's Creed franchise, said yesterday it had bounced back into profit in its 2023-2024 fiscal year as it released additional titles.

After losing €494.2 million (RM2.53 billion) the previous year as releases were delayed, Ubisoft earned a net profit of €157.8 million in its fiscal year to the end of March 2024.

Revenues rose 26.8 per cent to €2.3 billion, and hit a record 858.4 million in the January-March quarter to thanks to the release of the latest instalments in the Prince of Persia and Skull and Bones franchises.

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“Our FY 2024 results confirm that Ubisoft is back on track on its profitable growth trajectory,” chief executive Yves Guillemot said in a statement.

“We are committed to continuing our turnaround in FY25 thanks to a very promising line-up that includes Assassin’s Creed Shadows, Rainbow Six Mobile, Star Wars Outlaws, The Division Resurgence, and XDefiant,” he added.

Ubisoft announced Assassin's Creed Shadows will be released on November 15.

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The company said it had already made around €150 million in cost savings and aimed to raise that to €200 million by the end of this fiscal year. ― AFP