Restructuring Sega returns to profit in Q2

Sega Sammy Holdings said today it returned to profitability in the second quarter, following confirmation of large-scale restructuring outside Japan.

As reported by GI, Sega posted revenues of ¥69.9 billion ($893m/£569m) in the quarter ended June 30 2012, a 7.1% year-on-year increase. Profits were ¥2.5 billion ($32m/£20m), versus the ¥2.2 billion loss in the same quarter last year.

The company said there was "weakened demand" for packaged games due to the moribund economic climate in the west. Total packaged sales across all titles for the quarter were 1.34 million - a year-on-year decline.

The company's only major packaged release was London 2012: The Official Video Game of the Olympic Games. The game debuted at the top of the UK charts.

Sega is currently in the process of moving away from the packaged goods business, and confirmed in June that it was shutting offices in France, Germany, Spain, Australia and Benelux.