Team Internet Group, a prominent player in the ad tech ecosystem, has achieved remarkable success in 2023, setting new benchmarks for profitability and shareholder returns. According to Chief Financial Officer Billy Green, the company reported a 26% increase in operating profit, reaching £42.3 million, and a remarkable turnaround with a profit after tax of £24.3 million, a stark contrast to the £2.1 million loss in the previous year.
Green attributed this outstanding performance to the company’s effective partnerships within the ad tech ecosystem, its ability to leverage industry trends, and a unwavering commitment to quality in its online presence segment. These factors enabled Team Internet to achieve profitability levels exceeding industry standards.
In a testament to its financial strength and commitment to shareholders, Team Internet proposed doubling its dividend from one pence to two pence per share. Additionally, the company plans to continue its share buyback programme, further enhancing shareholder value.
While specific forecasts for 2024 were not provided, Green expressed confidence in meeting market expectations. Team Internet will release its Q1 results in May, offering further insights into its performance trajectory.
Team Internet’s remarkable 2023 financial performance and strategic initiatives underscore its position as a leader in the ad tech industry, delivering real bottom-line profitability and unwavering commitment to creating long-term value for its shareholders.
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