Games firm unveils action plan

Lara Croft computer games publisher Sci Entertainment today unveiled far-reaching plans to revive the business after half-year losses soared.

The company is to cut more than 260 jobs and axe run-of-the mill games to focus on its biggest titles such as Tomb Raider and Kane & Lynch.

New chief executive Phil Rogers, who has led a review since succeeding previous head Jane Cavanagh in January, said: “Our quality has slipped below acceptable standards.”

Operating losses spiralled to £81.4m (€106.4m) in the six months to December 31, compared with £17.9m (€23.4m) the previous year.

And the group’s shares tumbled more than 30% after Mr Rogers warned that his turnaround plan would cost up to £55m (€71.9m) – nearly treble SCi’s existing overdraft – and could be funded with new equity.

Mr Rogers added: “To get SCi on track we have to act rapidly and effect change quickly.”