JoWooD reports solid Q3 results as publishing revenues rise

Publisher JoWooD has announced selected financial results for its third quarter, which ended in September, and the first nine months of the year - revealing that the company's financial position is continuing to strengthen.

Earnings before interest and tax for the nin month period stand at almost 1.2 million Euro, on sales of 12.4 million Euro - representing a 20 per cent rise in publishing revenues over the equivalent period last year.

The company has reported that liabilities from last year have been set free of interst charges thanks to a new banking agreement, and the firm was keen to point out that its successful financials come despite a highly conservative policy on capitalisation and depreciation.

The Austrian firm, which now employs 140 staff, said that the first three quarters were largely charactertised by investments in future titles, including a 2005 slate of releases which includes the likes of Gothic III, SpellForce II, The Guild II, Hotel Giant II and Stargate.