Posted on September 11, 2018 by staff

Record results for UK games studio


Publicly listed games studio Team17 has announced record results for the first half of 2018.

The firm, which has bases in Wakefield and Nottingham, said revenues were up 48 per cent to £15.4 million from £10.4m in 2017. Profits were up by a quarter to £6.9m.

Team17, which was founded 28 years ago, raised £107.5m from its float on the London Stock Exchange  in May. It said £45.1m of this allowed it to repay debt through the issuance of new shares.

The creator of hit game series Worms, Team17 has repositioned itself as a creative partner and developer of indie games alongside its traditional franchises.

It recently celebrated the launch of its 100th game, PLANET ALPHA.

“We are delighted to announce our maiden interim results as a public company, further demonstrating the strong progress we are making as a business,” said CEO Debbie Bestwick MBE.

“Following our successful IPO, we have a strong base from which to push forward with the business, and continue to grow the footprint and our international fan base.

“We continue to strengthen our international relationships and work with independent developers on exciting new games, and through lifecycle management, ensure the longevity of our back catalogue.”