News: Konami expects 82% profit drop
Japanese publisher Konami has released a forecast of its revenues for the six months ending September 30 with the top line prediction of an 82 per cent drop in profit compared to the previous year.
In total the company is expecting to collect JPY 114 billion (USD 1.26 billion) in revenue, down 22.5 per cent on the same period in 2008, while net income is predicted to come in at JPY 2.2 billion (USD 24.3 million), down from JPY 12 billion (USD 132.8 million) last year.
According to a financial statement the company is attributing the collapse to a quiet release period, with its major titles launching in the second half of its fiscal year – as well as unfavourable comparisons to last year’s Metal Gear Solid 4: Guns of the Patriots release.
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