Investments bear fruit as games developer reports robust trading
Video games developer, Team17, predicts its result, revenue and adjusted EBITDA for FY 2022 will be significantly ahead of market expectations and show strong growth compared with FY 2021.
The business, which has which has bases in Wakefield, Nottingham and Manchester, has published a trading update for the 12 months ended 31 December 2022, in which it notes it traded strongly in H2 2022, with multiple new first and third-party games released.
Team17 says it remains mindful of the cost of living crisis and changing global economic trends, but is entering FY 2023 with confidence, with a broad portfolio and future pipeline of new games/apps and updates for delivery in the coming year.
Debbie Bestwick, CEO, said: “2022 was a well-executed year delivering on our highly ambitious plans for the Group.
“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.”
The business expects to report its full year results for FY 2022 during March 2023.