Sumo Group PLC Trading Update and Notice of Results (5643N)

TIDMSUMO

RNS Number : 5643N

Sumo Group PLC

21 January 2019

21 January 2019

Sumo Group plc

("Sumo Group" or the "Group")

PRE-CLOSE TRADING UPDATE AND NOTICE OF RESULTS

FY2018 at least in line with management expectations

Sumo Group is pleased to announce that it expects to report results at least in line with management expectations for the financial year ended 31 December 2018 on Tuesday, 9 April 2019.

A number of contracts were secured towards the end of 2018, which underpin the financial forecasts for 2019. As at 31 December 2018, the Group had positive cash balances of GBP3.7m and employed 592 people, an increase of 103 from the figure at the previous year end.

Carl Cavers, Chief Executive Officer, said:

"In our first full year since IPO in December 2017, we have continued to deliver strong growth across all areas of the business. The Group started 2018 taking on the Newcastle Studio of CCP Games and, in August, we acquired The Chinese Room, creating our Brighton Studio. Sumo Group is currently operating globally from seven studios in three countries and we are planning to operate from another studio in the UK in the near future.

"We are seeing many exciting opportunities to deliver more growth in our core markets, served by Sumo Digital and Atomhawk, and I am very pleased with the progress the business is making. The Board looks forward to announcing the Group's Final Results and providing a further update in April."

 
 Enquiries: 
 
 Sumo Group plc                                                           Tel: [phone] 
 Carl Cavers, Chief Executive Officer 
 David Wilton, Chief Financial Officer 
 
 Zeus Capital Limited (Nominated Adviser & Broker) 
 Nick Cowles / Andrew Jones                                               Tel: [phone] 
 Ben Robertson / John Goold                                               Tel: [phone] 
 
 Belvedere Communications Limited 
 Cat Valentine                                                            Tel: [phone] 
                                                                         [e-mail] 
 Keeley Clarke                                                            Tel: [phone] 
                                                                            [e-mail] 
 Llew Angus                                                               Tel: [phone] 
                                                                             [e-mail] 
 

About Sumo Group - www.sumogroupplc.com

Sumo Group's businesses provide acclaimed development and design services to the video games and entertainment industries from studios in the UK, India, and Canada.

Sumo Digital, as the group's primary business, is one of the UK's largest independent developers of AAA-rated video games, having studios in Sheffield, Newcastle, Nottingham, Pune (India), and the BAFTA award-winning The Chinese Room in Brighton. Sumo Digital provides turnkey and co-development solutions to a global blue-chip client base. Atomhawk is a multi-award-winning visual design company, with studios in Newcastle and in Vancouver (Canada), servicing the games, film and visual effects industries.

Together, the Group delivers full-spectrum visual and development solutions, which include initial visual concepts, conceiving new products and game development involving all aspects of pre-production, production & development, as well as supporting games as a service.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

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January 21, 2019 02:00 ET (07:00 GMT)