Team17 group, the Yorkshire-based video games label, has reported another solid performance in unaudited results for the six months ended 30 June 2022 (H1 2022).
During the period, revenues grew 33% to a record £53.2m, up from £40.1m in the same period of 2021.
Profit before tax meanwhile decreased to £11.2m from £14m.
The business completed a number of “high quality acquisitions,” focused on broadening the group’s geographical footprint and operational reach, alongside adding high quality first party IP.
Debbie Bestwick, Chief Executive Officer of Team17 group plc, said: “We are pleased with the group’s first half performance, trading in line with our expectations. Our new acquisitions, led by our talented and committed management teams, have worked incredibly well together across all parts of the group, and we are all looking forward to a busy and productive second half.
“The group now has more evergreen first party IP’s than ever before, alongside a phenomenal back catalogue portfolio, and in StoryToys, a growing subscription revenue model. New releases include additions to many established franchises and licensed global brands as well as exciting new original IP’s that are tracking well.
“Complementing our first half performance, we have made an encouraging start to the second half of FY 2022 and we remain confident about the group’s prospects going forwards.”
