Revenue ahead of expectations for Team17

Indie games maker Team17 said that adjusted EBITDA and revenue are ahead of market expectations for the current year in a pre-close trading update.

The Wakefield-based company said the strong first half performance has been driven by continued sales momentum across the back catalogue, a solid performance across an array of new release titles along with the recognition of a higher proportion of revenues relating to license income.

The Company has had a busy release schedule in the first half and launched a number of new titles, including the multi-platform release of My Time at Portia along with Hell Let Loose which launched in Early Access on Steam earlier this month.

In addition, the Company has released new downloadable content for several titles, including The Escapists 2 and Overcooked 2.

Team17 said it will release its first half results in September 2019.