Team Internet Sees Record Financial Success in 2023; Announces Increase in Dividends

Team Internet Group (AIM:TIG) has had a remarkable year in 2023, achieving significant financial milestones and marking it as a year of notable success.

During an interview with Proactive’s Stephen Gunnion, Team Internet’s chief financial officer, Billy Green, highlighted the company’s impressive accomplishments in 2023. The company reported substantial growth in revenue and profit across all metrics, demonstrating an operating profit of £42.3 million, representing a 26% increase over the previous year. Notably, Team Internet achieved a profit after tax of £24.3 million, a considerable turnaround from a £2.1 million loss in the prior year. This success reflects the company’s strategic focus on delivering real bottom-line profitability and value to its shareholders.

A significant driver of this outstanding performance has been the company’s effective partnerships in the ad tech ecosystem, as well as its ability to capitalize on industry trends, along with a steadfast commitment to quality in its online presence segment. These efforts have resulted in profitability that exceeds industry standards, establishing Team Internet as a leader in its sector.

Furthermore, Team Internet has proposed to double its dividend from one pence to two pence per share, a testament to its strong financial stability and dedication to delivering value to its shareholders. The company also intends to continue its share buyback program, further underlining its commitment to returning value to its investors.

Looking to the future, although specific forecasts for 2024 are yet to be provided, Green expressed confidence in the company’s ability to meet market expectations. The company is set to release its Q1 results in May, which will offer further insight into its performance trajectory, providing stakeholders with a comprehensive understanding of its growth and success.

In conclusion, Team Internet’s exceptional financial performance in 2023 is a testament to its steadfast commitment to delivering value to its shareholders, maintaining strong financial health, and its position as a leader in the industry. The company’s proposed increase in dividends and continuation of its share buyback program reflect its dedication to returning value to its investors, making it an attractive choice for prospective shareholders and reaffirming its status as a standout performer in the market.