26th Mar 2025 09:48
(Alliance News) - everplay group PLC on Wednesday expressed optimism for 2025 as it swung to a profit in 2024 and proposed its maiden final dividend.
The Wakefield, England-based developer and publisher of video games reported a swing to pretax profit of GBP25.3 million in 2024, from a loss of GBP1.1 million in 2023, driven by revenue gains and reduced costs.
Its shares were up 14% at 258.05 pence on Wednesday morning in London.
Revenue improved 4.7% to GBP166.6 million from GBP159.1 million, as everplay, formerly known as
Team17 Group PLC, realised double-digit growth in first-party IP revenue.
First-party IP revenue grew 10% to GBP61.5 million from GBP55.9 million, while Third-Party IP grew 1.8% to GBP105.1 million from GBP103.3 million.
Further supporting the bottom line were reduced administrative expenses, falling 21% to GBP45.6 million from GBP57.6 million. A reduction in cost of sales also contributed, declining 4.3% to GBP97.3 million from GBP101.6 million.
Owing to its strong performance and strategic positioning, said everplay, it decided to implement a progressive dividend policy. It proposed a maiden final dividend for 2024 of 2.7 pence per share.
On current trading, everplay reported a positive start to 2025, with it confident in achieving an improved trading performance for the year.
Chief Executive Steve Bell commented: "I am extremely pleased with the group's performance during 2024, a clear return to the quality business for which we have been known. As we begin our first year under the new name of everplay, I am excited about the incredible slate of games we have lined up for 2025, and some important innovations in our business model.
"Allied with stringent cost controls, we are confident that these will deliver results our shareholders expect."
By Christopher Ward, Alliance News reporter
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