Results 

Team17 off the mark with a bang

Team17 off the mark with a bang

Maiden results offer an opportunity for newly-listed groups such as video game developer Team17 (TM17) to showcase their financial strengths. In the first half of 2018, operating net cash inflows nearly doubled to £6.5m, thanks to extraordinary operating cash conversion of 274 per cent. And, after excluding £2.6m of IPO-related costs, depreciation and intangible asset impairments, adjusted cash profits rose 36 per cent to £4.9m. Despite trading being largely second-half weighted, revenues still rose nearly 50 per cent, far outstripping the wider market.

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