finances – Video Game News, Reviews, Walkthroughs And Guides | GamingBolt https://gamingbolt.com Get a Bolt of Gaming Now! Wed, 01 Aug 2012 00:34:15 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 Major restructuring sees Sega turn profit in Q2 https://gamingbolt.com/major-restructuring-sees-sega-turn-profit-in-q2major-restructuring-sees-sega-turn-profit-in-q2 https://gamingbolt.com/major-restructuring-sees-sega-turn-profit-in-q2major-restructuring-sees-sega-turn-profit-in-q2#respond Tue, 31 Jul 2012 22:15:04 +0000 http://gamingbolt.com/?p=100446 Sega Sammy Holdings announced today that the company has returned to profitability following major restructuring across Europe.

Posting revenues of £569m ($893m/¥69.9bn), Sega have seen a 7.1% year-on-year increase for the quarter with profits up to £20m ($32m/¥2.5bn) after having lost £17.9m ($28m/2.2bn) in the same quarter the previous year.

However total packaged sales for the quarter were down year-on-year to 13.4m, which the company attributed to “weakened demand” given the economic climate in the West.

This profit follows Sega’s recent decision to close offices in France, Germany, Spain, Australia and Benelux, outsourcing much of its European PR to Koch Media. Sega has also announced plans to move away from boxed retails which a view to becoming fully digital.

Source: GamesIndustry

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