SCi reports full-year £99 million loss

According to this Edge story, SCi's posted a £99.1 million for the 12 months to June 30, up from a £13.3 million loss in 2007.

The increase in deficit has resulted from the company's transformation in the past year, during which time it's cancelled many games and dropped its staff headcount by 25 percent.

Revenue declined from £128.8 million in 2007 to £118.9 million.

"The 2008 results reflect a year in which we took decisive action to transform our business,” said CEO Phil Rogers. “We have emerged as a stronger business and over the next year we will see the results of our restructured and revitalized operation. We are focused on delivering higher quality games with our priorities clearly set on maximizing the returns from our cornerstone franchises.

"We remain totally focused on and excited by the worldwide release of Tomb Raider: Underworld in November. Tomb Raider: Underworld has benefited from additional development time and a carefully choreographed build up to launch.

“In 2009 we will continue to see the benefits of our new structure to the releases of our games, which include Just Cause 2, Battlestations Pacific, Championship Manager 09 and Batman: Arkham Asylum."

More through the link.