SouthPeak has reported strong growth for the third quarter of its financial year ended March 31, 2009. 

Revenues leapt to $13.5 million (£8.81m), from $2.2 million (£1.44m) during the comparable quarter in 2008, while profit totaled $289,000 (£189,000), up from $20,000 (£13,000).

The sales increase was partly attributed to new releases during the quarter, including Big Bang Mini and X-Blades, although SouthPeak said that its results “reflect strong momentum across all platforms.” The publisher sold 711,000 games during the quarter, up 497,000 units on 2008’s Q3 total.

“Recent comments by several large industry players indicate that they are retrenching amidst the recession,” said SouthPeak chairman Terry Phillips. “These companies are focusing on their largest IPs and brands, creating an opportunity for an independent publisher like SouthPeak to bring more high-quality titles to market.” 

SouthPeak, which has released Velvet Assassin for Xbox 360 and PC and Pirates vs. Ninjas for Wii since the end of its third quarter, also noted that it has over 60 titles in development for multiple platforms.

“We are aggressively investing in our future, with over $14 million invested in IP and game development, compared with approximately $4 million this same period last year,” said company CEO Melanie Mroz.