Video games studio Team17 has announced record annual results following its IPO last summer.
The firm, which has bases in聽Wakefield and Nottingham, reported an increase in revenues of 46 per cent to 拢43.2 million in 2018 from 拢29.6m in 2017.
Gross profit was up 18 per cent to 拢19.8m while adjusted EBITDA increased 18 per cent to 拢15.3m.
Team17, which was founded 28 years ago, raised 拢107.5m from its float on the stock exchange聽 in May.
The creator of hit game series Worms, Team17 has repositioned itself as a creative partner and developer of indie games alongside its traditional franchises.
It launched 12 new games in the 12 months to 31st December, seven of them new IPs, and said it has a solid pipeline for 2019.
鈥淚鈥檓 delighted to report on an excellent year for Team17, delivering record revenues and operating profits in the period as well as successfully completing our listing on the Alternative Investment Market,鈥� said CEO Debbie Bestwick MBE.
鈥淭his result was successfully driven by delivery of our ever-growing portfolio during 2018. 鈥淲e have continued to build upon the enviable track record of revenue and profit growth shown over previous years coupled with our ability to effectively manage the lifecycle of our games.鈥�
The firm鈥檚 headcount increased 30 per cent to 167 at the end of the year, reflecting further investment across all areas of the business, especially in quality assurance, commercial and development capabilities.
鈥淥ur people remain our point of differentiation: their passion, talent, ambition and teamwork collectively made the difference in 2018, and as such, it was most rewarding to see industry recognition across our label with over 140 nominations and awards for our games and people,鈥� continued Bestwick.
鈥淥ur incredibly exciting industry continues to grow at a rapid pace. We believe there are more opportunities than ever before for content creators and publishers with the rapid uptake and more openness of digital distribution platforms alongside new emerging distribution methods.
鈥淲e have a solid pipeline of game launches in 2019 and look forward to updating our shareholders on our continued progress in due course.鈥�