Team17 Group PLC (AIM:TM17), which is about to be renamed as everplay Group PLC, told investors that its trading in 2024 was robust, with revenue and earnings (adjusted EBITDA) set to slightly exceed expectations.
The independent video game developer described its Christmas period as strong and said the positive momentum has carried over into January.
"I am delighted with the strong end to the year's trading, and the momentum into 2025, which is further evidence of the success of our refocused strategic initiatives,” chief executive Steve Bell said.
Thursday’s statement comes ahead of full-year results, due in March.
The company announced its proposed name change in the trading update, with the company noting that it reflected its intended growth in the indie gaming and edutainment sectors.
Under the new name, everplay, the company has three subsidiary divisions - Team17, Astragon, and StoryToys – which will retain their respective brands.
“We believe [the name] better represents our business which has evolved greatly since the IPO and reflects our DNA to never stop playing,” Bell said.
“This rebrand not only creates an ideal backdrop to foster greater cross-collaboration internally but also reflects our aspirations to expand our reach across complementary sectors within the broader indie market.
Bell added: "Fundamentally, we want to create pioneering and captivating experiences that enrich and inspire players around the world, and I firmly believe everplay will become synonymous with creating games that deliver a lifetime of play."
In London, the small-cap share was up 12.5% changing hands at 270p.