Game launches provide half-year boost for Team17

Game launches provide half-year boost for Team17

Team17, the game developer behind the best-selling Worms franchise, has almost doubled revenue in its half-year results after launching a host of new titles.

The listed company reported revenue of £30.4m for the six months ended 30 June 2019, up 97 per cent from £15.4m in the same period of 2018.

Adjusted EBITDA and increased to £12m from £4.9m the year before.

New titles released during the first half included Genesis Alpha One, My Time at Portia and Hell Let Loose.

Team17 has plans to relocate its development studio relocation planned to a larger site during the second half of the year, providing with increased capacity to support its growth ambitions. The company's headcount increased to 164 during the period, from 154 the year before.

Debbie Bestwick MBE, chief executive of Team17, said: "Our results during the first six months really underline the dedication and hard work of our people and external Games Label partners, and I want to thank every one of them.

"I'm delighted with the excellent start to FY2019, delivering record revenues and operating profit in the period as well as successfully launching several high-profile games.

"We have a solid line up of new games to release in H2 2019 and look forward to updating our shareholders on our continued progress in due course."

Team17 is headquartered in Wakefield with a commercial office in Nottingham.