Wakefield games company Team17 increases profits 25% in first results since IPO

Video games company Team17 generated a gross profit of £6.86m in the six months to June 30 2018.

The figure was up from £5.47m during the same period in 2017, a year-on-year increase of over 25%.

Wakefield-based Team17 also saw double-digit growth in its revenues, with total sales rising 48% to £15.4m.

In May, the company completed an IPO on AIM that saw it raise £107.5m.

Team17 CEO Debbie Bestwick MBE said: “We are delighted to announce our maiden interim results as a public company, further demonstrating the strong progress we are making as a business.

“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.”

She continued: “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.”

Team17 is a developer and publisher, supporting both its own first-party IP and third-party IP through partnerships with indie developers around the world.

Its portfolio today includes more than 90 games, including the Worms series.

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