Team17 releases upbeat trading update
Wakefield-based games label Team17 has released a trading update saying it expects revenue and adjusted EBITDA to be ahead of market expectations for the year to December 31st 2019.
“The Company has continued to experience strong customer traction from both new and established games throughout the second half of the year,” the update reads.
“The performance has been driven by continued sales momentum across the portfolio of titles.”
In September, Team17 announced revenue up 97.4% year-on-year and gross profit up 118.8% to £15.1m. Success was driven by a mix of new launches and a strong performance from back catalogue titles.
CEO Debbie Bestwick said: “I’m delighted with the excellent start to FY2019, delivering record revenues and operating profit in the period as well as successfully launching several high-profile games.”