Video games are big business for Jagex, which has announced an impressive set of financial results.

The Science Park company, famous for creating the RuneScape franchise, says it delivered double digit growth in 2016.

Revenues grew 28% year-on-year growth to a new high of £74.4m. Profit after tax saw growth to £28.8m, while profits excluding exceptional costs were £37.8m, representing growth of 21.5% and 50% respectively when compared to 2015.

Jagex was acquired by Chinese mining company ZhongJi Holding last year, and has subsequently become the western arm of a new global games group founded by the company, called Fukong Interactive.

Phil Mansell, acting CEO of Jagex

Phil Mansell, acting CEO of Jagex

Phil Mansell, Jagex’s COO and acting CEO, said: “2016 saw RuneScape celebrate its 15th anniversary and we placed a razor focus on evolving and growing both RuneScape and Old School RuneScape. Through investment in big ticket content, technology, marketing and strengthening the relationship we enjoy with millions of players that form our deeply-engaged community, the team delivered landmark performance by growing active users, conversion rates and subscribers.”

“It was also a year in which Jagex was united with Fukong Interactive Entertainment, previously named ZhongJi Holding, and began its transformation into the western arm of a global gaming group. Flourishing under this new ownership, Jagex has increased funding toward in-house projects and is exploring opportunities to invest in complementary ventures.”

Jagex has been investing heavily in its games over the last year, and hopes this will continue to help it grow in 2017.

“With a 16-year world class reputation for running free-to-play games in live operations, Jagex is now building a pathway for franchise extension, innovation and creativity,” addeded Mansell.

Old School RuneScape is a popular part of the Jagex stable

Old School RuneScape is a popular part of the Jagex stable

“We will continue to invest in our live games, which includes the introduction of Menaphos: The Golden City, the first in a series of major expansions for RuneScape.

“We will also capitalise on Old School RuneScape’s increased popularity with content and marketing, including the expansion of its successful competitive gaming event programme. In addition to the live titles, we are looking to expand the franchise to new devices and titles, while also investing in developing original IP to reach new audiences.”

Jagex has also unveiled a new logo to signify that it is now part of Fukong Interactive.