PulluP: share price rises after an encouraging quarter

(CercleFinance.com) - PulluP shares posted one of the biggest gains on the Paris market on Friday, following the publication of encouraging quarterly sales figures.


At 12:20 pm, the video game publisher's share price was up by more than 8%, while the CAC Mid & Small index was down by 1.5% at the same time.

For the first quarter of its 2024/2025 financial year, which ended on June 30, the group generated sales of 34.2 million euros, compared with 38.6 million euros a year earlier, representing a decline of 11%.

In a press release, PulluP points out that there were no significant releases in the quarter just ended, while highlighting the 17% organic growth of its back-catalog (titles already on the market), which it believes demonstrates its robustness and the relevance of its strategy.

In a reaction note, analysts at TP ICAP Midcap describe an "encouraging quarter", but also point out that the upcoming release of "Warhammer 40,000: Space Marine 2", scheduled for September 9, will prove crucial.

"On this game, we find it extremely difficult to quantify the impact of the recent 'leak', whether it was a commercial disaster or, on the contrary, a fantastic (intentional) promotional opportunity?

'If in doubt, we'll maintain our estimates', says the investment bank.

PulluP points out that 'Space Marine 2' is already one of the most eagerly awaited games of 2024 on the Steam platform, ranking fourth on the wish list of games to be released this year.

Copyright (c) 2024 CercleFinance.com. All rights reserved.