Angry Birds maker Rovio turns a profit, plans movie sequel

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[August 24, 2016]  HELSINKI (Reuters) - Finnish mobile game and animation maker Rovio Entertainment Ltd said on Wednesday it made a profit in the first half of the year and was planning a sequel to its successful Angry Birds Movie.

Rovio's adjusted operating profit in the first six months of 2016 was 5.7 million euros ($6.4 million) compared with a loss of 10 million a year earlier. Revenue rose 16 percent to 76.4 million euros on the back of higher game sales.

The figures do not include profits from its 3D Angry birds movie which has earned more than $347 million at the box office worldwide since its release in May, Rovio said.

"We currently have several exciting new games and other projects in development, including new IP, and we have started planning the sequel to The Angry Birds Movie," Chief Executive Kati Levoranta said in a statement.

Privately-held Rovio financed the first film from its own pocket in a bold bet to revive the aging Angry Birds brand.

Last year, Rovio cut a third of its staff, hived off non-core businesses, changed CEO and booked an annual loss of 13 million euros.

(Reporting by Jussi Rosendahl and Tuomas Forsell; editing by David Clarke)

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