Jagex Company Status: Active - Proposal to Strike off

[Jonanananas]

Oh yeah, misread that. They were in the black for non-exceptional activities though. If only I spoke lawyer and unerstood that those 3 major expenses were....

 

"

 

From the report

 

The operatlonal results for the 9 month penod have been significantly impacted by a number of one-off exceptlonal

charges as highlighted below

 

- US Operatlons: Jagex establlshed a subsidiary in the United States as part of a wider group strategy to expand

the range of games produced. Significant costs were incurred In the US ln pursuit of outstandlng talent and

intellectual property. By the year end the few projects that were considered the most viable were chosen and

the remainingg activities were ceased. Jagex expensed all costs incurred ln the US. Additonally, due to the

curtailment of operatlons ln the US, a lease commitment became onerous. An onerous lease provision has

been recognised in respect of this

 

- New Cambridge Office: Jagex has taken a number of steps to improve the working environment for

employees and allow for future growth This included the relocation from two separate buildings into one

main office, housing all Cambridge employees. Consequently an onerous lease provision has been recorded

for the vacant property

 

- Change of Control liabilty: There was a change of control of Jagex Limited in December 2010. As a result of

that transaction, the Company took on a liability to founding shareholders totalling £7.7 m which was

expensed fully ln the financial period."

 

So...I'm not an expert with this but most of it really sounds like one-off costs. They invested in development in the USA, moved into the new office. I'm not quite sure I understand the last part. Did Andrew, Paul etc. get money from Jagex after selling their shares? Did the investors pay with the money the product they bought generated? This is weird...(But I'm really not familiar with a lot of these financial terms)

 

There is a lot of information in that report, I can't get much out of it unfortunately.

 

The other two interesting things I saw were this:

 

Analysis of Turnover (I'll give a percentage compared to last year, of course with the 9 months compared to a year respected)

 

Game time sales: 31,893,489 (97% compared to last year)

Advertising Revenue: 782,870 (70% compared to last year)

Other income: 228,618 (2180% compared to last year)

 

In total: 32,905,077 (97% compared to last year)

 

At first I thought Other income were microtransactions, but even with the giant raise compared to last year, it still wouldn't be a lot. So maybe it's in with Game time sales, though I wonder what the other income is then.

 

 

Also, not that it matters much but I found it interesting/funny:

 

"The Group made charltable donatlons amounting to £207 dunng the perlod (year to 31 March 2011 - £150,076)

Donations were made to a number of local and US based charities"

 

 

 

Overall, with my limited understanding of things I'd say they're doing okay but not with a positive outlook. Investing will be good I guess, but the fact that altogether it got them almost a loss of ten million seems a little desparate, a move to get ahead in the playing field again before they completely fall behind...

[ilovecuttingyews]

Analysis of Turnover (I'll give a percentage compared to last year, of course with the 9 months compared to a year respected)

Game time sales: 31,893,489 (97% compared to last year)

Advertising Revenue: 782,870 (70% compared to last year)

Other income: 228,618 (2180% compared to last year)

At first I thought Other income were microtransactions, but even with the giant raise compared to last year, it still wouldn't be a lot. So maybe it's in with Game time sales, though I wonder what the other income is then.

It's good to see P2P sales are more or less the same as the previous year.

Ad revenue dropping is most likely because F2P is dead. Years of neglect has really forced F2P from being it's own segment of the game to a temporary place where people either move on to P2P or quit entirely. Jagex did restart video ads before login for F2P in 2012, so that number will likely rise next statement.

I haven't a clue what 'Other income' is. IIRC microtransactions only started with the SOF which was early 2012, so not included in this statement.

[highlanders]

What about the t-shirts, mugs and the other rubbish?

[homer205]

Other income is likely not related at all to the business of making video games, if they have any investments etc this is where interest from them would be listed. Onerous lease basically means that if they were to break the lease agreements for the buildings they had to begin with the penalties in the clause would be high enough that it's just worth them keeping the lease and letting it expire.

[Ts_Stormrage]

The report's finally out...3 months+ late.

 

https://docs.google.com/file/d/0B5iRY6C8tGKLcGhlblVoN1hkbUE/edit

 

They had bad numbers indeed. From a basic skim, they had a 9.5 million pound loss for the year. They still have about 10 million pounds of funds left.

 

They made a point of including a seperate, not required pstt of the report basically saying how successful they were until March of the year (6mil pound profit) but for the whole year still managed to come out 9.5 mil in the red. I don't actually remember what happened around mar 2011...

 

The people at stellar dawn central will probably read a lot more deeper into everything and write their analysis.

 

The fiscal year ended Mar, so the 9 months is between Mar and Dec..that's the 9.5 mil pound loss. So however you look at it, Jagex was in the red that year.

 

Someone needs to dig up exactly what happened Mar-Dec 2011

 

You mean april (year ends with march, so new year starts with April)

 

I do remember what happened on April 2nd though:

SoF

 

EDIT: NVM, was 2012

[Ginger_Warrior]

What possible relevance would it have had even if you'd bothered to check if the year was correct?

[Quest_Cape_K]

The report's finally out...3 months+ late.

 

https://docs.google....lVoN1hkbUE/edit

 

They had bad numbers indeed. From a basic skim, they had a 9.5 million pound loss for the year. They still have about 10 million pounds of funds left.

 

They made a point of including a seperate, not required pstt of the report basically saying how successful they were until March of the year (6mil pound profit) but for the whole year still managed to come out 9.5 mil in the red. I don't actually remember what happened around mar 2011...

 

The people at stellar dawn central will probably read a lot more deeper into everything and write their analysis.

 

The fiscal year ended Mar, so the 9 months is between Mar and Dec..that's the 9.5 mil pound loss. So however you look at it, Jagex was in the red that year.

 

Someone needs to dig up exactly what happened Mar-Dec 2011

 

You mean april (year ends with march, so new year starts with April)

 

I do remember what happened on April 2nd though:

SoF

 

EDIT: NVM, was 2012

You seriously hate SOF that much? Were connections just made instantly in your head when you see money and Jagex together?

[Ginger_Warrior]

There's none so blind as those who do not wish to see.