The IGG Interim Results for the first half of 2020 highlight a period of robust financial performance for the global mobile game developer and publisher. The company achieved a record-high net profit of US$132.8 million, representing an 88% year-over-year increase. While revenue for the period reached US$312.3 million, the significant profit growth was driven largely by fair value gains from strategic investments in mobile internet and gaming-related companies, such as XD Inc. Excluding these investment gains, the company’s core net profit grew by 10% year-over-year to US$78.5 million.
The company maintains a strong global footprint, with operations spanning 16 countries and games localized in 23 languages. Its flagship title, Lords Mobile, remains the primary revenue driver, accounting for 84% of total revenue and experiencing a resurgence in monthly gross billing that reached a record US$60 million by July 2020. The company’s portfolio is supported by a workforce of over 1,600 employees, more than half of whom are dedicated to research and development. Revenue distribution remains geographically diverse, with Asia, North America, and Europe serving as the primary markets.
Financially, the company remains in a strong liquidity position, reporting nearly US$400 million in cash and receivables as of June 30, 2020. This stability has allowed for a shareholder-friendly capital allocation strategy, including a combined interim and special dividend payout alongside share buybacks, which together accounted for 71% of the period's net profit. Looking forward, the company intends to leverage its R&D capabilities and localized marketing strategies to capitalize on the expanding global mobile games market, while continuing to pursue strategic investments to diversify its product portfolio and maintain its competitive edge in the industry.
