Yorkshire video games studio Team17 doubles profits
Wakefield-based game developer Team17 has posted its half-year results for 2019, reporting a 97.4 per cent increase in revenue year-on year and gross profits up 118.8 per cent to £15.1 million.
The ‘indie’ games label, founded 28 years ago, has raised £107.5m from its float on the stock exchange in May.
Founded in 1990, the creator of hit game series Worms has repositioned itself as a creative partner and developer of indie games alongside its traditional franchises.
It has launched several new releases in the first half of the year including Genesis Alpha One and My Time at Portia, a game which achieved a global #1 in January on games platform Steam and a successful launch on consoles in April 2019.
Debbie Bestwick MBE, Chief Executive Officer of Team17, commented:“Our results during the first six months really underline the dedication and hard work of our people and external Games Label partners, and I want to thank every one of them.
“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.
We have a solid line up of new games to release in H2 2019 and look forward to updating our shareholders on our continued progress in due course”.