Wakefield’s Team17 reports strong festive trading

Shares of Wakefield-based Team17 Group, the developer of video games and educational entertainment apps, rose as much as 8% after it published a positive trading update for the 12 months ended December 31, 2023.

All parts of the group performed well over the key Black Friday and festive trading periods, in particular Team17 Games Label,” said the company. “As a result, as communicated in November, management continues to expect FY 2023 adjusted EBITDA to be at least £28.5m, which includes non-cash title impairments of up to £11.5m recognised in the period.

“Linked to the earlier Easter holiday dates this year, the group expects to report results for FY 2023 on Tuesday 9 April, at which time management will provide additional insight into the group’s plans for 2024 and its broader strategic outlook.”