Revenue soars in "extraordinary year" for Sumo Group
Turnover has grown by 40 per cent in the full-year results for Sumo Group in an "extraordinary year" for the listed video game developer, boosted by a pair of acquisitions.
The company reported revenue of Revenue £68.9m for the year ended 31 December 2020, up from £49m in 2019. This included 24 per cent organic and 16 per cent acquisitive growth.
Adjusted EBITDA increased to £16.5m from £14.1m the year before. Statutory profit before taxation reduced to £900,000 from £7.4m, but this was after charging an amount of £7.3m arising on the acquisition of Pipeworks.
Pipeworks, a US-based developer, was acquired in October 2020 for an enterprise value, calculated at the time of acquisition, of up to $99.5m.
Lab42, a cross-platform work for hire studio in Leamington Spa, was also acquired in May 2020.
A further acquisition of PixelAnt Games in Wroclaw, Poland, was completed after the year end in January 2021.
Total headcount increased to 1,043 at the year end, from 766 in 2019.
Sumo won two BAFTA awards for Sackboy A Big Adventure in March 2021, with two further nominations.
Sumo Group is based in Sheffield with studios in Newcastle, Nottingham, Leamington Spa, Warrington and Pune, India. It also owns The Chinese Room in Brighton, Red Kite Games in Leeds, Lab42 in Leamington Spa and PixelAnt Games in Wroclaw, Poland.