Team Internet Group has announced a stellar financial performance for the year 2023, showcasing a 26% increase in operating profit to £42.3 million and a notable turnaround from a £2.1 million loss in the previous year to a profit after tax of £24.3 million. This achievement underscores the company's robust position within the ad tech ecosystem and its ability to capitalize on industry trends while maintaining a high-quality online presence.
Chief Financial Officer Billy Green highlighted the company's strategic partnerships and focus on quality as key drivers behind this success. These efforts have not only propelled Team Internet to profitability levels that surpass industry standards but also reinforced its reputation as a leader in the ad tech sector. In a move that reflects its financial health and dedication to its shareholders, the company has proposed doubling its dividend from one pence to two pence per share and intends to continue its share buyback programme.
While Team Internet has not provided specific forecasts for 2024, Green expressed optimism about meeting market expectations. The upcoming release of the company's Q1 results in May is anticipated to offer further clarity on its performance trajectory. For more information on Team Internet's financial achievements and strategic initiatives, visit https://www.teaminternet.com.
Team Internet's 2023 financial results and strategic decisions not only demonstrate its ability to achieve real bottom-line profitability but also its unwavering commitment to generating long-term value for its shareholders, solidifying its status as a frontrunner in the ad tech industry.
