Team17 profit jumps as revenue almost doubles on new video game releases

Writer, Stock Market Wire
Tuesday, September 10, 2019 - 07:56

Video games developer Team17 reported a rise in first-half profit after new games releases, including 'Genesis Alpha One' and 'My Time at Portia', almost doubled its revenue.

Pre-tax profit for the six months through June jumped to £10.4m, up from a modest £31k on-year.

Revenue rose 97% to £30.4m, which the company said reflected a greater first-half weighting due to its games release schedule.

'I'm delighted with the excellent start to the 2019 financial, delivering record revenues and operating profit in the period as well as successfully launching several high-profile games,' chief executive Debbie Bestwick said.

'We have a solid line up of new games to release in the second half and look forward to updating our shareholders on our continued progress in due course.'


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