Wednesday 21 August 2019

Profits set to jump at Games Workshop

Pre-tax profit for 2019 will come in at around £80m.

Games Workshop is forecasting higher profits (Owen Humphreys/PA)
Games Workshop is forecasting higher profits (Owen Humphreys/PA)

By Ravender Sembhy, Press Association City Editor

Fantasy miniatures company Games Workshop is set to post another profit increase this year as solid trading continues to boost its performance.

The Warhammer maker said pre-tax profit for 2019 will come in at around £80 million, up from £74.5 million last year.

It also raised its dividend to 155p per share for the year.

“Following on from the group’s half-year report in January, trading to April 7 2019 has continued well.

“Compared to the same period in the prior year, sales and profits are ahead. Royalties receivable are also ahead of the prior year following the signing of new licence agreements,” the Nottingham-based firm said.

Shares were up more than 5% at 3,495.1p in morning trade.

The latest announcement follows a strong half-year update in January, when Games Workshop saw sales rise 14% in the six months to December 2 to £125.2 million, boosted by an improved performance in retail and trade divisions.

Pre-tax profits were 7% higher at £40.8 million at the interim mark.

The results were helped by the continued popularity of tabletop game Warhammer, which Games Workshop has said is in “great shape”.

A series of investment projects, including a new Nottingham factory and upgraded warehouse capacity, are expected to foster further sales growth and increase efficiencies.

PA Media

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