Video game developers set to bounce?
News covered here includes our assessment of results and the outlook of several underperformers of recent years. With plenty of cleaning up having been done they could offer decent recovery potential. Elsewhere, one of our fast-growing Stonking Small Caps continues to impress as does a lowly rated provider of power and data transmission products. Read on here for our usual forthright assessment of this and other news. (Premium)
Team17: terrible results, but are we through the worst? Team17 Group (AIM:TM17), the developer and publisher of premium video games and apps reported predictably awful results for the year ended 31 December 2023, which featured some big impairments, including a puzzling one relating to a recent acquisition. Revenue in the year grew 12% to £159.1m with 17 new games and apps released. Revenues from the back catalogue grew 10%, accounting for 71% of Group revenues, which perhaps suggests that new releases were not hugely successful but also more positively highlights the strength of their back catalogue. The StoryToys business (deemed…