LONDON (ShareCast) - (Sharecast News) - Team17 said it was confident about its outlook as the video games developer recorded record first-half profit supported by new releases.


Pretax profit for the six months to the end of June rose 5% to £14m from a year earlier as revenue increased 3% to £40.1m. Revenue was boosted by titles released towards the end of last year and six new games released in the first half.

Debbie Bestwick, Team17's chief executive, said: "Our performance during the first half of this year is a testament to the continued commitment and passion of our teamsters and label partners. I am delighted to report we've been able to continue the trend of delivering improved year on year results specifically considering the corresponding half record set the previous year."

The company said it was confident about the second half after a "solid" start to 2021. Team 17 said it hired Michael Pattison from Sony Interactive Entertainment to run its Games Label unit from next month.

Team17 shares fell 1.3% to 785p at 12:51 BST.

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