Video game developer Codemasters posts record first-half sales

British video games developer Codemasters has seen first half sales more than double to a record £80.5 million.

The firm, whose board earlier this month recommended shareholders approve a £759 million takeover, which values each Codemaster share at 485p, by larger US games group Take-Two Interactive, is behind the F1 series of video games.

Frank Sagnier, chief executive of Codemasters, said in the first half the firm benefitted from three game launches, and continued to make significant progress against its strategic objectives, to strengthen the group's overall leadership position in racing, grow the audience and increase average revenue per user.

In the six months to September 30 pre-tax profits jumped to £20.5 million from £10.6 million.