French publishing giant Ubisoft has reported a 2.9 per cent dip in its net bookings for the three months ending June 30th. 

In a report to shareholders, the company said that it had brought in €281.6 million ($330.8 million) for the first quarter of its fiscal year; it says that this small decline is due to a combination of factors, including Rainbow Six: Siege underperforming and a partnership that was due to land in Q1 being bumped to its next quarter. 

Back catalogue sales are looking good for Ubisoft, bringing in €260.4 million ($305.9 million) for the first quarter, a 4.4 per cent increase year-on-year. 

The French firm is also restructuring itself into Creative Houses, what appear to effectively be divisions within the company. The first of these is the Tencent-backed subsidary that was announced earlier this year. 

"We also continued to make meaningful progress on Ubisoft’s transformation by outlining a new operating model built around business units, called Creative Houses," CEO and co-founder Yves Guillemot said. 

"These units will reflect our diverse types of gaming experiences and will allow for enhanced quality, focus, autonomy and accountability. Over time, each of these Creative Houses will boost creative vision and business performance.

"The new Subsidiary announced earlier this year and overseeing our flagship brands – Assassin’s Creed, Far Cry, and Rainbow Six – is the first of these Creative Houses. The recent announcement of its leadership team marks an important milestone as we move toward a more agile and focused organisation while ensuring necessary long-term stability and creative vision.”