Games developer Team17 achieves strong revenue growth

Team17, the global games label, creative partner and developer of independent premium video games, today said it had enjoyed strong revenue growth over the last financial year.

Team17's portfolio includes the well-established Worms franchise
Team17's portfolio includes the well-established Worms franchise

During 2018, revenue increased by 46 per cent to £43.2m, while the gross profit rose by 18 per cent to £19.8m.

The company said that its portfolio grew strongly in 2018 with 12 new game launches. Other highlights included the ●appointment of Jo Jones as chief financial officer in October 2018.

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Debbie Bestwick MBE, the chief executive of Team17, commented: “I’m delighted to report on an excellent year for Team17, delivering record revenues and operating profits in the period as well as successfully completing our listing on the Alternative Investment Market.

“This result was successfully driven by delivery of our ever-growing portfolio during 2018. We have continued to build upon the enviable track record of revenue and profit growth shown over previous years coupled with our ability to effectively manage the lifecycle of our games.

“Our people remain our point of differentiation - their passion, talent, ambition and teamwork collectively made the difference in 2018, and as such, it was most rewarding to see industry recognition across our label with over 140 nominations and awards for our games and people.

“Our incredibly exciting industry continues to grow at a rapid pace. We believe there are more opportunities than ever before for content creators and publishers with the rapid uptake and more openness of digital distribution platforms alongside new emerging distribution methods. We have a solid pipeline of game launches in 2019 and look forward to updating our shareholders on our continued progress in due course.”