Strong start to the year for Team 17

Wakefield-headquartered games development firm, Team 17, has launched several new products and had a “strong” start to 2018, during which it began trading on the Alternative Investment Market (AIM) of the London Stock Exchange with a valuation of £217m.

Publishing a trading update this morning, CEO Debbie Bestwick said: “We are pleased with our performance in the first half of our financial year and the ongoing success of both owned and label partner IP.

“The announcement of Overcooked 2 and early access launch of My Time At Portia provides further evidence of our commitment to building brands and collaborating with some of the most creative indie partners around the globe.

“We are delighted with the reaction received globally for our games at E3. We have also recently won the ‘Develop Publishing Hero’ Industry award for the second time, which is further testament to the high quality premium games we select and the hard work of all of our teams who I’d like to thank.

“We look forward to updating our shareholders on our progress over the coming months.”

The company said it had made a strong start to 2018 and expects to deliver full year results in line with market expectations.

Its back catalogue continues to perform well and H1 saw the launch of a small number of new IP from label partners, including My Time At Portia by Pathea Games, Team17’s first indie partner in China. Team 17 said My Time At Portia had successfully launched in early access on PC and illustrated the capabilities and infrastructure of its publishing teams to support global partners.

In June 2018, the Company announced the launch date of Overcooked 2, the sequel to the double BAFTA-winning game on Xbox One, PlayStation 4, Nintendo Switch™ and PC.  “The game has been co-developed in partnership with indie developer Ghost Town Games and demonstrates the unique ability we provide as a creative partner,” said Team 17. 

The Company had a successful E3, one of the games industry’s leading calendar events, with three games featuring in press conferences.