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Wednesday 14 November 2018

Games Workshop ups full-year profit forecast

Over the past 12 months Games Workshop shares have soared.

Games Workshop is pencilling in higher profits (PA)
Games Workshop is pencilling in higher profits (PA)

By Ravender Sembhy, Press Association City Editor

Fantasy miniatures maker Games Workshop has upgraded its profits forecast for the full year.

The Nottingham-based group said that a solid few months of sales in the three months to April 30 will help full-year profits to come in “slightly above expectations”.

Stellar results have been helped by online sales and the continued popularity of tabletop game Warhammer.

Following on from the group's update on February 5 2018, the good growth trends have continued to the end of April Games Workshop

In a stock market announcement, the firm said: “Following on from the group’s update on February 5 2018, the good growth trends have continued to the end of April.

“Sales and, given the high operational gearing of the business, profits for 2017/18 to date are therefore slightly above expectations.”

At half-year results in January, the firm unveiled a 54% rise in sales to £108.9 million, while profits jumped from £13.8 million to £38.8 million.

Over the past 12 months, Games Workshop shares have risen by more than 150% as the firm continues to bounce back from a difficult period when sales faltered.

Games Workshop makes 75% of its revenues overseas, so has benefited from the Brexit-induced collapse in the pound.

Shares were up 1% in morning trade.

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