Team17 Group 'performed well' over Black Friday and Christmas trading periods

Team17 Group has revealed that it “performed well” in the run up to Christmas, as it published a trading statement for investors.
Greg Wright
By Greg Wright
Published 25th Jan 2024, 09:10 BST

The global games label, creative partner, developer and publisher of independent premium video games and educational entertainment has provided a trading update for its performance in 2023.

The statement said: “All parts of the group performed well over the key Black Friday and festive trading periods, in particular Team17 Games Label.

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"As a result, as communicated in November, management continues to expect FY(full year) 2023 adjusted EBITDA (earnings before interest taxation, depreciation and amortisation) to be at least £28.5m, which includes non-cash title impairments of up to £11.5m recognised in the period.

Team17 Group has provided a trading update for investors. (Photo by Nicholas .T. Ansell/PA Wire)Team17 Group has provided a trading update for investors. (Photo by Nicholas .T. Ansell/PA Wire)
Team17 Group has provided a trading update for investors. (Photo by Nicholas .T. Ansell/PA Wire)

“Linked to the earlier Easter holiday dates this year, the group expects to report results for FY (full year) 2023 on Tuesday April 9 , at which time management will provide additional insight into the group's plans for 2024 and its broader strategic outlook.”

Steve Bell, CEO of Team17, said: "Having joined the business in September 2023, I am delighted to now formally take over as group CEO, having spent the last four months fully immersing myself across the group, with our people, portfolio of games and developers.

"I am pleased with how FY 2023 trading closed, finishing the year with positive momentum across the portfolio.

"I am extremely excited about the prospects for the group in 2024 and beyond."

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