UK indie games label Team17 made $20.1m in revenue in the company's first H1 financial report.

The firm reports this is a 48 per cent rise year-on-year from 2017's $13.6m revenue.

For the six months ending June 30th, 2018, Team17's gross profit rose 25 per cent from $7.2m to $9m, with EBITDA increasing 36 per cent to $6.4m.

"We are delighted to announce our maiden interim results as a public company, further demonstrating the strong progress we are making as a business," CEO Debbie Bestwick MBE (pictured) said.

"Following our successful IPO, we have a strong base from which to push forward with the business and continue to grow the footprint and our international fan base. We continue to strengthen our international relationships and work with independent developers on exciting new games, and through lifecycle management, ensure the longevity of our back catalogue."

This follows the company going public in May of this year. Team17 raised $140m off the back of this IPO, just short of the $144.1m the label anticipated.