Codemasters to beat targets as lockdown drives surge in game downloads

Video game developer Codemasters has reported an increase in digital downloads as people spend more hours indoors due to the corona virus being blocked.

The British company said profits for the year ended March 31, despite the Covid-19 outbreak, were "well above expectations".

Earnings before interest and taxes for the year were around £ 18.1 million with annual sales of around £ 76 million.

The racing game developer’s stake rose after telling investors that the shift to digital delivery had accelerated significantly given the pandemic.

It is said that traditional retail and box sales are affected by the virus, but customers have instead turned to digital downloads with higher margins.

Players will see coronavirus security messages in Codemasters DiRT Rally 2.0 (Codemasters / PA).

The company said its productivity and the performance of its systems and processes have been "extremely reassuring to date" as teams are moved to work from home.

Codemasters said it "does not expect any significant disruption or loss of efficiency as a result of this change.

The company recently announced that the release of its Fast & Furious Crossroads has been delayed due to the pandemic.

A separate announcement also confirmed that Lisa Thomas, Virgin's Global Chief Brand Officer, has been appointed as non-executive director.

On Monday, Codemasters also announced that it was using display advertising in its games to "support the Coronavirus' communication efforts."

The company has built in the ability to update display ads in its games with technology from London-based company Bidstack, so that banners can be updated remotely with corona virus security alerts.

The company's shares rose in early trading on Tuesday by 10.7% to 273.9 pence.

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