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(Alliance News) - Team17 Group PLC on Friday said it expects its 2019 earnings to beat market expectations after sales of its video games on Nintendo Co Ltd's Switch platform drove a positive Christmas trading period.
Shares in the company surged 8.4% to 415.00 pence each in early trade in London on Friday morning.
For 2019, both adjusted earnings before interest, taxes, depreciation and amortisation and revenue are to be ahead of market consensus, the video game developer said.
Team17 added: "The company is pleased to report its growing portfolio has continued to perform well over the peak Christmas sales period with a specifically strong performance from the company's multiplayer games on Nintendo Switch."
The Christmas period is one of the most crucial trading spells for video game developers.
Its "solid" portfolio of games for 2020 represents "more than any previous year", the company said.
The Wakefield, West Yorkshire, based firm has developed Nintendo Switch games like strategy role-playing game The Escapists, where players assume the role of an inmate attempting to escape prison.
One of the titles in its pipeline of releases for 2020 is Golf With Your Friends, which sees players compete on various novelty golf holes.
By Eric Cunha; ericcunha@alliancenews.com
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