Game developer Warthog posts annual losses

  July 31, 2003 at 12:02 AM ET
  James (via Manchester Online)

The slump in profitsopens in new window for Warthog forced the game developer to drop two projects, namely games based on the movie 'ET' and the TV cartoon 'Animaniacs.'

COMPUTER games developer Warthog today posted annual losses for the first time following financial crises at two publishers for whom it was working.

The publishers were unable to raise enough capital to continue to fund projects based on the hit movie "ET" and the cartoon series Animaniacs.

As a result, Warthog was not paid large chunks of its contract fees.

Those setbacks meant the Cheadle-based firm incurred exceptional costs of £1.3m in the 12 months to March 31, which landed Warthog with pre-tax losses of £790,705 against profits of almost £500,000 in the corresponding period last year.