Team Internet Group, a key figure in the ad tech ecosystem, has announced a stellar financial performance for the year 2023, showcasing a significant leap in profitability and shareholder returns. The company's Chief Financial Officer, Billy Green, revealed a 26% increase in operating profit, amounting to £42.3 million, and a notable shift from a £2.1 million loss in the previous year to a profit after tax of £24.3 million. This remarkable turnaround underscores the company's robust strategy and operational efficiency.
Green highlighted the company's successful partnerships within the ad tech ecosystem, its adeptness at capitalizing on industry trends, and a steadfast focus on maintaining a high-quality online presence as pivotal factors behind this achievement. These strategies have not only propelled Team Internet to surpass industry profitability standards but also reinforced its market leadership.
In a move that reflects its financial health and dedication to its shareholders, Team Internet has proposed doubling its dividend from one pence to two pence per share. Furthermore, the company intends to proceed with its share buyback programme, a strategy aimed at further augmenting shareholder value. While the company has not disclosed specific forecasts for 2024, Green remains optimistic about meeting market expectations. The upcoming release of Team Internet's Q1 results in May is anticipated to provide additional clarity on the company's performance trajectory.
Team Internet's 2023 financial achievements and strategic decisions not only affirm its dominance in the ad tech sector but also demonstrate its ability to generate substantial profitability and long-term value for its shareholders. For more information on Team Internet Group's performance and strategies, visit https://www.teaminternet.com.
