A computer games company based in the North East has issued a major rise in both turnover and profit as the region’s gaming sector continues to drive new jobs.
Ubisoft Reflections, which has a base at Newcastle’s Regent Centre, is part of the French multinational Ubisoft group and best known for its work on the Tom Clancy series of games.
The company has now released accounts for the year ending March 31, 2020, which show that revenues rose 25% to £71.7m, while operating profit also increased, going from £35.1m a year earlier to stand at £47.2m.
Read more: go here for more North East business news
In the accounts, Ubisoft CEO Yves Guillemot said that the Reflections studio had a “strong year”, despite operating in a highly competitive climate.
And with the company’s headcount rising slightly to go past the 300 mark, it said that it was backing initiatives in the region to boost digital skills.
The accounts say: “Ubisoft Reflections is involved in initiatives which promote the acquisition of the technical and digital skills which will be indispendable in tomorrow’s job market, in particular by providing support to those most vulnerable, such as job-seekers, seniors and those from rapidly changing urban areas.
“The Newcastle studio is continuing with its role as skills development within the Dynamo North East group, which is supporting Newcastle’s post-industrial transition to help the city become an emerging technological hub.
“This industrial initiative focused on the growth of the technology sector in North East England seeks to promote skills, education and support research and development in the regions in the new technologies sector.”
The accounts cover the period before the Covid pandemic, but a note from Mr Guillemot says the outbreak should not have any material impact on the company, despite some minor delays on production.
The accounts have been released just a few weeks after the global Ubisoft corporation announced half-year sales of €751.3m, making it one of the Europe’s largest computer games companies.
Its presence in the North East - which also includes a customer relationship centre at Newcastle’s Haymarket - is part of a sector that is seen as one of the main strengths of the region’s tech scene.
Last year gaming firms Silent Games and Coatsink were taken over in multimillion-pound deals while Middlesbrough’s Double Eleven was recently named North East Company of the Year after significant growth and work with Minecraft creator Mojang.
Industry body Ukie singled out the gaming hub in Newcastle for its economic contribution to the region, saying it was the largest outside London.
