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Frontier Developments – “no longer expects to achieve the FY23 market consensus forecasts” (even after our noted previous downgrades to the forecasts!)

By Steve Moore | Monday 9 January 2023

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

Previously writing on videogames developer and publisher Frontier Developments (FDEV) just over a year ago I concluded, even as the share price fell towards 1300p, that noted performance and guidance supported continued caution. The shares last closed at 999p and today a “Trading Update and Notice of Results”. This commences including that the company “expects to report revenue for H1 FY23 of approximately £57 million (H1 FY22: £49.1 million)”. Good news then?

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