The Dundee tech firm which has played a large part in the global success of the Minecraft video game has reported a fall in sales.
4J Studios has developed versions of the popular block-building game for a variety of video games consoles, as well as mobile devices, since 2012.
The company owned by Chris van der Kuyl and Paddy Burns saw its sales fall more than £3million.
The firm’s turnover dropped from £13.5m in 2019 to £10.3m for the year to 31 October 2020.
Recently filed accounts show pre-tax profits were also down. They fell from £12.4m in 2019 to £8.6m.
4J Studios bosses ‘satisfied’
In his strategic report, Mr van der Kuyl said 4J Studios was continuing to perform well, despite a slow down in sales.
The company chairman said: “During the year, the coronavirus epidemic has arisen and this has resulted in the slow down of trade across many sectors.
“The directors are satisfied with the position at the end of the year.”
He said due to the strong financial position of the company pre-Covid-19, the directors felt the company was not in any danger.
The net assets of 4J Studios increased from £39.7m to £45.8m during the financial year.
Headcount at the firm, which also has an office in East Linton, fell by four, from 42 the previous year to 38.
Staying ahead of the competition
Mr van der Kuyl said the company ensures it keeps up-to-date with new technology and the development of new platforms.
He said: “The success of the company is subject to the uncertainties regarding the popularity inherent in creating new products and changes in technology.
“The company ensures they stay up-to-date with new technology, ensuring their products are developed to be used over multiple platforms and keep pace with the new platforms released.”
With customers in different global markets, Mr van der Kuyl said 4J Studios also takes steps to mitigate its exposure to exchange rates.
Last summer, they also acquired a 10% stake in aquaculture technology firm Ace Aquatec.