Indie games label Team17 set to exceed revenue expectations.
Revealed in a trading update, the company said that both revenue and its EBITDA are set to exceed the forecasts set out at the start of the financial year due to strong sales. How much the forecast has been increased isn't revealed.
“The Company has continued to experience strong customer traction from both new and established games throughout the second half of the year and now expects both adjusted EBITDA and revenue to be ahead of market expectations for the current year,” said the update
“The performance has been driven by continued sales momentum across the portfolio of titles.”
The Escapists developer saw its revenue double year-on-year in H1 2019. On top of this, the company isn’t in a rush to acquire further companies. Choosing instead to save its money and make the right acquisitions for the business.
2019’s financial success follows Team17 earning $20.1 million in the first half of the 2018/19 fiscal year. This followed what the company claimed was a “strong start” to 2018.