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Sumo Group Plc

Sumo Group plc FY2018 at least in line with management expectations

Sumo Group plc (LON: SUMO) has today announced 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 £3.7m and employed 592 people, an increase of 103 from the figure at the previous year end.

Carl Cavers, Sumo Group plc 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.”

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.