Games Workshop shares rise on back of strong trading

Games Workshop half year

Fantasy model games retailer Games Workshop has reported strong half-year sales in its preliminary half-year estimates, prompting a sharp nine per cent rise in its shares this morning.

The British retailer, soon to be rebranded as Warhammer, said trading in the period continued to be strong and sales for the first six months period ending November 26 are set to be £109 million, a whopping 54 per cent increase on the same period last year.

The sales is had a knock-on effect on its operating profit, which is expected to hit £38 million compared to the £13.8 million recorded last year.

Due to the significant increase in both its sales and profit in the past six months, Games Workshop has cemented itself as one of the best performers on the stock this year.

Overall, the Nottingham-based brand’s shares have skyrocketed 174.4 per cent since the end of last year, according to FactSet data.

This morning alone, shares went up by as much as nine per cent on the back of the preliminary report.

“Over the first half we have seen sales and profit growth in all channels in constant currency terms with the momentum continuing throughout period,” Games Workshop said.

The retailer – known for its production of miniature figurine armies that are used in in-store table games – also recorded a significant rise profits last year, from £16.9 million to £38.4 million and effectively allowing the retailer bounce back after a period of difficulty when sales faltered.

Games Workshop’s financial performance has been boosted by the collapse in the value of the pound and the way 75 per cent of sales come from overseas markets in North America, Australia, and Asia.

Games Workshop is slated to reveal its half-year report on January 9.

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