Good morning! It’s Graham here with the placeholder for Monday’s SCVR.

I’m writing this from a gently swaying hammock, pitched in an indoor botanical garden, in the suburban outskirts of Yokohama, Japan. I’m surrounded by some very strange-looking plants and flowers. The great thing about shares analysis & investing, is that all you need is a laptop and wifi, and you can work literally anywhere on earth.

Cheers!

Graham



(Just kidding :) )



There are lots of "bitty" RNS statements today - trading statements and other minor updates. I might deal with a higher number of updates but spending less time on each one. Let's see how it goes.

Provisional list:

Timings: finished at 15.50.



Team17 (LON:TM17)

  • Share price: 307.5p (+3%)
  • No. of shares: 131 million
  • Market cap: £404 million

Trading Update

This is a very brief update!

The Company has continued to experience strong customer traction from both new and established games throughout the second half of the year and now expects both adjusted EBITDA and revenue to be ahead of market expectations for the current year.
The performance has been driven by continued sales momentum across the portfolio of titles.

Team17, owner of the Worms franchise and many other titles, has only been listed since last year. So far, the signs are positive.

There's nothing for me to analyse in this update but from a StockRank perspective this is a High Flyer and could be worth its 28x earnings multiple.

The main thing I would be worrying in the video games sector is a company's dependence on a small number of games for financial success. 

The most recent annual report stated the following in relation to this:

The Group has historically been reliant on a subset of successful titles to generate a large share of its revenues. Should the Group fail to competently manage the lifecycle of its core games this may adversely affect it financial results.
The Group has expanded its…

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