Gameloft sees 2010 profits jump 127% to a record 13.6 million euros

Further to its initial announcement of its 2010 sales figures, Gameloft (GFT.PA) has revealed its full financial breakdown.

As we previously knew, consolidated sales for the 12 months ending December 31, were €141 million ($193 million), up 16 percent year-on-year.

Net profit has been revealed as €13.6 million ($18.6 million), up 127 percent compared to 2009.

Net margin was 9.6 percent compared to 4.9 percent in 2009.

Gameloft ended 2010 with cash and cash equivalents of €25.1 million ($33.6 million). It generated €17.2 million ($23 million) of cash during the year.

Gameloft said this performance was due to robust growth in sales, combined with efficient cost controls. Its R&D, sales and marketing, and administration costs grew 9 percent year-on-year to €104.6 million ($143 million).

In terms of sales, Gameloft commented its iPhone and iPad revenues grew 63 percent during 2010, while the withdrawal of a large number of competitors in the Java and Brew markets means it expects to continue to win market share, as well as seeing growth in emerging markets.

However, the company's focus is on smartphones and social gaming. As well as highlighting smartphone, tablets and smart-TVs, Gameloft highlighted its aim to become of the major players in social gaming over the next three to five years.

It's planning a slate of social games covering all genres and platforms such as mobile and Facebook.

"The company's knowledge of the mobile industry coupled with its development and deployment capacity, enable Gameloft to be well positioned to make rapid progress in the space," it stated.

[source: Gameloft]