Games firm slumps to £12m loss

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THE games developer behind the Grand Theft Auto series has reported a loss of more than £12 million.

Rockstar North, which is based in the Capital, made £5.4m in profits last time it filed accounts, but saw turnover in the 12 months to March last year reach just over £18m, more than £7m less than the previous 17 months.

The company, which employs 269 people, reported £11.5m in “exceptional items” for 2012, but no further details were provided in accounts filed with Companies House.

Rockstar North, which spent £22.2m on research and development last year, is due to release Grand Theft Auto V in the spring.

It has described the latest instalment as its “largest and most ambitious” game to date.

Grand Theft Auto IV sold 926,000 copies in the UK alone in its first week and went on to sell more than 20 million copies globally.