SEOUL, South Korean game publisher Neowiz said Wednesday it bounced back to black in the fourth quarter, thanks to robust sales of its latest titles.

Neowiz posted a net profit of 2.8 billion won (US$2.1 million) in the quarter, shifting from a net loss of 28.1 billion won a year ago, the company said in a regulatory filing.

It also shifted to an operating profit of 15.1 billion won in the October-December period from an operating loss of 2.8 billion won in the same period last year. Sales jumped 50.5 percent on-year to 109.4 billion won.

For the whole of 2023, the company posted a net profit of 46.5 billion won, up 252 percent from the previous year.

The annual operating profit surged 62.2 percent on-year to 31.7 billion won, and yearly sales rose 24.1 percent on-year to 365.6 billion won.

The game company attributed its solid earnings to the popularity of its latest titles released last year.

Lies of P, an action game released in September last year, led the sales increase in the personal computer an
d console divisions, and Brown Dust ?, a mobile game released in June, contributed to stronger sales in the mobile division.

Neowiz said it plans to discover new story-based intellectual properties to create a global fandom as part of its long-term growth strategy.

The company will released new titles, including mobile puzzle game Oh My Anne, mobile soccer game Pro Soccer: Legend Eleven and role playing game Legend Of Heroes: Gagharv Trilogy, later this year.

Source: Yonhap News Agency