GameLoft's first quarter revenues rise 146 per cent

Mobile games specialist GameLoft has announced partial financial results for the first quarter of 2005, ended March 31st, revealing that revenues grew by some 146 per cent to hit 9.9 million Euro.

The firm - which is another business operated by the Guillemot family, founders of Ubisoft - has now seen eight straight quarters of three figure growth, thanks in no small part to the rapid growth of the mobile sector as a whole.

The bulk of the company's business - around 62 per cent - still comes from Europe, but revenues in North America are growing rapidly, and showed a massive five-fold increase year on year.

Gameloft now employs almost 1000 staff worldwide, and has set a target of 70 per cent overall growth for 2005 - one which it looks set to surpass with ease, if the performance shown in the first quarter of the year can be carried forward.