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Sumo Group shares jump following in-line trading update ahead of interims
In a statement at its annual general meeting, the AIM-listed video game developer said its development pipeline was “very strong” and was trading in line with expectations
Sumo said it was “well positioned to take advantage of growth” in the global software market
) saw its shares jump in mid-afternoon trading Wednesday after saying it expected results for the 2018 financial year to be in-line with market expectations.
the AIM-listed video game developer said its development pipeline was “very strong” and was trading in line with expectations ahead of its interim results in September. Sumo Capital Trading , the AIM-listed video game developer said its development pipeline was “very strong” and was trading in line with expectations ahead of its interim results in September.
READ: Sumo on the 'cusp of something special' as video games boom
The firm added that it was continuing to operate with a positive cash balance and would be exploring “suitable acquisition opportunities” going forward.
Regarding the software market Sumo Capital Trading , Sumo said it was “well positioned to take advantage of growth”, citing a report from the Association for UK Interactive Entertainment (UKIE) that the global software market is forecast to grow to US$180.1bn in 2021 from US$137.9bn in 2018.
2018 will be the first full year of the company trading on AIM following its float on 21 December 2017, in which it raised £78.2mln.
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