Leading video games firm announces profits surge
A provider of creative and development services to the video games and entertainment industries has announced its final results for 2018 and a new Director.
Sumo Group, which has bases in Sheffield, Newcastle, Nottingham, Huddersfield, Leamington Spa and India, posted £18.4m gross profit in 2018, a 39 per cent increase on 2017.
“We are successfully attracting major new global publishers, as well as strengthening our relationships with existing and previous clients, and our business development pipeline remains very healthy,” said Carl Cavers, Chief Executive Officer of Sumo Group.
The AIM-listed group has also announced the appointment of a new director in Paul Porter.
Porter, who co-founded Sumo Digital in 2003 with Carl Cavers and Darren Mills, was appointed as Chief Operating Officer of Sumo Group on 1 April 2019.
Prior, he was managing director of Sumo Digital, the Group's primary operating business.
Porter has more than 25 years of industry experience, having previously been studio head for Infogrames Sheffield and Head of Core Technology at Gremlin Interactive.
Ken Beaty, Chairman of Sumo Group, said the company was “delighted to welcome Paul to the board.”
“I have worked with Paul at Sumo Digital since late 2014 and know that his profound industry knowledge and considerable expertise will further strengthen our executive team.
“The Group continues to grow rapidly and we are reorganising our management structure to accommodate further successful expansion. The creation of the Chief Operating Officer role on the plc Board is an important part of this new structure and how we manage the business."
The business has acquired two studios since its IPO, which operate under their own names, BAFTA award-winning The Chinese Room and Red Kite Games. Sumo Digital provides turnkey and co-development solutions to a global blue-chip client base.