Lara Croft can't rescue SCi's profits
Sunday 14 September 2008
The release of the next game in the Lara Croft franchise will come too late to save SCi Entertainment from announcing huge losses of £100m tomorrow.
Tomb Raider Underworld, the eighth game in the series, is launched in November, and SCi hopes it will lift turnover after an expected £10m fall to £134m.
Its chief executive, Phil Rogers, has made several structural changes this year, including a 25 per cent reduction in staff numbers and the sale of Proein SL, its Spanish distribution business.
On the high street, Ian Cheshire, chief executive at B&Q's owner Kingfisher, will announce his first set of results at the helm on Thursday. Dresdner Kleinwort forecasts pre-tax profits of £204m, up from £176m last year.
Minerva, the property group, will announce full-year results tomorrow, when the market will look for an update on its 160p-a-share offer from Limitless, the Dubai state-owned vehicle. There have been rumours that the offer has been dropped as it represents a huge premium on the share price – 86.75p at close on Friday.
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