Revenue is set to be significantly ahead of expectations at Team17 Group for 2022, according to a new trading update for the twelve months ended 31 December.
The video games label with offices in Nottingham, Manchester, and Wakefield has hailed strong trading in its second half, with multiple new first and third-party games released, extended games distribution to wider platforms and strong support across the portfolios with additional new content updates.
As a result, Team17 says revenue and adjusted EBITDA will be significantly ahead of market expectations and show strong growth compared with FY 2021, benefitting from the performance of a stronger, broader portfolio supported by acquisitions and investment in people made over the last two years.
Debbie Bestwick MBE, CEO of Team17, said: “2022 was a well-executed year delivering on our highly ambitious plans for the Group, specifically strong lifecycle management across a very diverse portfolio and on time delivery of astragon first party IPs launched in 2022.
“There will always be more work to do as a growth business, but last year’s performance is a testament to the significant investment that has been made over the last two years in people, diversifying portfolios and successful M&A, all of which put the Group in a very robust position for the future.
“We look forward to 2023 with an exciting pipeline of releases and updates as well as ongoing ROI from the investments we have made in people and products.”
