Frontier Developments plunged into the red in the year to the end of May posting an operating loss of £1.7m against a profit of £1.1m last time.

Frontier Developments' underlying revenues fell by 24% to £9.2m as the group underwent a planned transitional period. Adjusted earnings before interest, tax depreciation and amortisation fell from £3.6m to £0.9m. The adjusted basic loss per share was 3.0p against adjusted earnings of 7.3p per share last time.

Looking ahead, Frontier Developments says the Board believes the group to be well placed to emerge from its transition period as a stronger and better-balanced business.

At 8:15am: (LON:FDEV) Frontier Developments Plc Ord 0.5p share price was -2.5p at 272.5p