Team17 Group PLC Trading Update (9442U)
July 18 2018 - 1:00AM
UK Regulatory
TIDMTM17
RNS Number : 9442U
Team17 Group PLC
18 July 2018
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(TM) 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 via Vigo Communications
Debbie Bestwick MBE, Chief Executive Officer +44 (0)20 7390 0238
Paul Bray, Chief Financial Officer & Chief
Operating Officer
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.
This information is provided by RNS, the news service of the
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END
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