Gameloft Sales Up 7%, Liberal Democrats Support Gaming Tax Relief

Gameloft, one of the largest games developers in the world, posted consolidated sales of €33.0 million during the first quarter of 2010, up by 7% from the previous year. Europe represented 37% of the company’s sales, North America 34% and the rest of the world 29%. By comparison, Europe accounted for 39% of full-year 2009 sales, North America for 32% and the rest of the world for 29%.

The success is down to releases of high-performance Smartphones from Apple, Palm, Samsung, Nokia and Google, which means that the company is expecting further growth over the next few quarters.

The company are also confident that the impending European release of the iPad will provide an opportunity with other avenues to explore, giving them yet more room to expand their revenue.

Sales for the second quarter of 2010 will be published on July 28, 2010.

This is particularly interesting given the upcoming UK General Election, and comments from Don Foster, Liberal Democrat Shadow Secretary of State for Culture, Media and Sport, who in a statement to TIGA said:

“Liberal Democrats support the introduction of a Games Tax Relief. Following consultation on the details, we would implement the Relief as soon as possible.”

Such a move would be a really interesting opportunity for the gaming industry. This would allow startups to keep more of the revenue they generate and to invest this in other areas, as well as allowing the big guns to allocate cash into other projects.

Dr Richard Wilson, CEO of TIGA, was unsurprisingly receptive:

“TIGA welcomes the Liberal Democrats’ commitment to support Games Tax Relief and to enact this tax measure as quickly as possible. There is a growing cross party consensus that Games Tax Relief is good for the UK development sector, good for the UK games industry, and good for the UK economy.”

Any move to help stimulate the flow of money in the games industry has to be a welcome move, and the fact that this is coming from a party who may be a in a real position to make a difference over the next five years in an exciting development.

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