First-half revenues slide for VU Games

Vivendi Universal Games has announced its financial results for the second quarter and first half of the fiscal year, revealing that revenues slid significantly year on year despite the strong performance of key titles.

For the first half of the year, revenues fell from 240 million Euros in 2003 to 148 million Euros in 2004 - a drop of some 38 per cent, which was most notable in the second quarter, where revenues were down to 71 million Euros, a fall of 47 per cent.

However, the company still noted that a number of key titles performed strongly - most notably film tie-ins Van Helsing and Chronicles of Riddick, with the latter set for a PC release later this year and mooted as a potential franchise for the company despite the poor performance of the movie.

The company also saw continued strong sales of last Christmas' hit, The Simpsons: Hit and Run, throughout the first half of the year, while Counter-Strike: Condition Zero and Baldur's Gate Dark Alliance II also performed well.

In the coming months, the firm is hoping to see a significant improvement as a result of its new management structure, introduced in mid-July, which divides its operations up into three key global territories with local presidents reporting directly to global CEO Bruce Hack.

The company also has a strong release schedule for the remainder of the year, headlined by Valve's Half-Life 2 - which is thought to be in line for a September release - but also featuring major titles such as Men of Valor, Tribes Vengeance, and an update to the Leisure Suit Larry series, Magna Cum Laude.