Gamevil's revenue jumped 66%

The South Korean game developer and publisher reported a significant increase in profit in the third quarter of this year compared to the same period in 2011.

In the third fiscal quarter, Gamevil’s sales amounted to $15.3 million, operating profit – $5.15 million, and net profit – $4.9 million, which is 66%, 26% and 21% more than the corresponding results of the third fiscal quarter of last year.

Gamevil attributes this growth to investing $10 million in its own fund in June 2011. The foundation’s task (both then and now) is to help external and third–party studios develop games for smartphones. 

Among its projects, the company especially highlights the role-playing projects Fishing Superstars, Monster Warlord and Kingdom Royale, in which the social element was successfully integrated. This allowed the games to quickly gain in box office. These projects accounted for about 40% of all Gamevil sales in 3Q (12% in the last quarter, 0% in 3Q 2011).

Gamevil notes a noticeable increase in profits in Asian countries, especially in Japan, where the flagships of the Korean company Baseball Superstars 2012 and Zenonia 4 show stable results. 

The company also reported that now 94% of all its sales come from smartphones. A year ago, the figure was much lower – 64%. The remaining 36% then accounted for income from conventional phones. The share of income received from IAP has also increased significantly. If in the third quarter of 2011 it was 65%, then this year it is 92%.