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Ubisoft raises goals after strong Christmas

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CIOL Bureau
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PARIS, FRANCE: French videogame publisher Ubisoft raised its fiscal full-year sales and profit targets on the back of strong demand for games such as Assassin's Creed Revelations and Just Dance in the Christmas period.

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The group now expects to post 2011-12 current operating income of 45-65 million euros, compared with a previous forecast of 40-60 million, it said in a statement on Tuesday. Sales are seen at 1.05-1.08 billion, versus 1.04-1.08 billion before.

Third-quarter sales rose about 8 per cent to 650 million euros ($830.6 million), beating the group's guidance of 580-620 million, Ubisoft said.

"In continuation of the robust trends recorded for the first half of the fiscal year, Ubisoft reported record-high sales for the Christmas period, exceeding expectations," chief executive Yves Guillemot said in the statement.

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"Ubisoft is therefore continuing to progress towards improving its financial performance and returning to positive cash flow generation in full-year 2012-13," the CEO added.

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