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Ubisoft sales hit targets but annual comparison is unflattering

Watch Dogs publisher makes £65 million for first quarter, down from £121 million last year

Paris headquartered publisher Ubisoft has hit its sales target for the first three months of its financial year, but overall the business has made 40 per cent less cash than the same time last year.

The multinational games development and publishing business made about £65 million in the three months ending June 30. The target it set was £60 million.

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However, last year the company brought in £121 million for the same three months in the previous fiscal year - a success owed in part to the release of Tom Clancy's Ghost Recon Future Soldier.

No operating profit numbers were disclosed.

Ubisoft said the sales growth was driven in part by a 56 per cent increase in sales of older titles such as Far Cry 3, Assassin's Creed 3 and Rayman Origins.

The company also claimed that key to its success is the ongoing strength of digital sales, which have increased by another 27 per cent to £29 million.

It also said that, despite its delay to an unannounced franchise, the company is standing by its previously announced targets for full-year 2013-14, namely sales of about £1.23 billion.

"Ubisoft's teams once again performed remarkably well at this year's E3 in a very competitive and dynamic environment," said company CEO Yves Guillemot.

"The event was an opportunity to fully confirm the potential of the next-generation consoles whose launch in late 2013 is synonymous with a new growth phase for Ubisoft and the industry as a whole," he added.

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