RUNESCAPE OWNER HAILS RECORD PROFITS

The Cambridge-headquartered developer and owner of the iconic RuneScape online gaming franchise has hailed its most successful year on record as annual revenues and profits soared by millions of pounds.

 

Jagex Games Studio, based on the Cambridge Science Park, is the UK's largest independent developer and publisher of online games. RuneScape, celebrating its 15th anniversary this year, is one of the world's most popular MMORPGs (massively multiplayer online role-playing games) and has attracted more than 250 million players since its launch.

 

In newly filed financial accounts for 2015, Jagex said RuneScape has continued to enjoy "deep and consistent engagement from a massive and growing community".

 

The business reported turnover of £57.9m for the year to 31 December 2015, a significant increase from £44.9m a year earlier. This included subscription revenues of 37.6m, up from £29.5m, microtransaction revenues of £19.7m and advertising revenue of £493,675.

 

Jagex also also posted a record profit before tax of £20.4m for the year, compared with £766,000 in 2014.

 

In July, Shanghai Zhongji Enterprise Group acquired Jagex via its established entity, Hongtou. Since then, the Chinese organisation has worked to create a new division in which to house its future digital acquisitions including Jagex. This was completed at the end of September when the division, Zhongji Holding, listed on the Chinese Stock Market.

 

Zhongji has purchased a majority stake in Hongtou, and will complete the remaining 49 per cent of Hongtou within the next year.

 

Rod Cousens will continue as chairman, chief executive and member of the board of directors of Jagex.

 

In Jagex's annual report filed at Companies House, Cousens described 2015 as an "outstanding year" and said the business is positioned for long-term growth and margin expansion across its product portfolio.

 

Jagex employs more than 320 staff at its headquarters in Cambridge. The company also planning to open a new office in London.

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