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18 Jul 2018 07:00
18 July 2018
Team17 Group plc
("Team17", the "Group" or the "Company")
Trading update
Team17, a global games label, creative partner and developer of independent ("indie"), premium video games, is pleased to provide an update for the six months ended 30 June 2018.
The Company has made a strong start to 2018 and expects to deliver full year results in line with market expectations.
The Company's 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. My Time At Portia has successfully launched in early access on PC and illustrates the capabilities and infrastructure of our 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. The game has seen strong traction with media ahead of the launch on 7 August 2018, and was awarded the highly prestigious 'Best of E3 2018 Game Critics Award' for Best family/social game.
The Company had a successful E3, one of the games industry's leading calendar events, with three games featuring in press conferences. In partnership with Nintendo, we unveiled Overcooked 2, PLANET ALPHA was featured in Microsoft's ID@Xbox montage and a new trailer for Genesis: Alpha One was revealed during the PC Gaming Show.
Debbie Bestwick MBE, Chief Executive Officer of Team17, commented:
"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."
Enquiries:
Team17 Group plc Debbie Bestwick MBE, Chief Executive Officer Paul Bray, Chief Financial Officer & Chief Operating Officer
| via Vigo Communications +44 (0)20 7390 0238 |
GCA Altium (Nominated Adviser) Phil Adams / Adrian Reed / Paul Lines
| +44 (0)845 505 4343 |
Berenberg (Broker) Chris Bowman / Toby Flaux / Marie-Agnes Stolberg
| +44 (0)20 3207 7800 |
Vigo Communications (Financial Public Relations) Jeremy Garcia / Fiona Henson team17@vigocomms.com | +44 (0)20 7390 0238 |
About Team17
Founded in 1990, Team17 Group plc is a leading international video games label and creative partner for independent developers. The portfolio comprises over 90 games, including The Escapists, Genesis: Alpha One, My Time At Portia, Overcooked, Yoku's Island Express, Yooka-Laylee, the Worms franchise and many more from developers around the world. Visit www.team17.com for more info.
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