Konami’s profits surge on social success

Konami almost tripled its profits in the six months to September 30 despite falling game sales – thanks entirely to success in the social space.

Despite a 46.4 per cent drop in sales of consumer games, Konami's net income rose 174 per cent year on year to ¥11.5 billion (£92.1 million). That discrepancy is almost entirely due to social games, where its revenue more than tripled year on year to ¥16.9 billion (£135.3 million).

The company now boasts 11 million users of its social games, of which the most popular is Dragon Collection, which was the top-ranked game on the Gree mobile gaming platform last month ahead of another Konami title, Professional Baseball Dream Nine.

Konami expects its disappointing sales of console games to pick up with the upcoming release of the Metal Gear Solid HD Collection. It expects revenue for the year ending March 31, 2012 to total ¥258 billion, with profits of ¥18.5 billion.