Games Workshop has said it expects profits for the full year to come above expectations, as it continues to be one of the best-performing stocks on the market.
In a trading update released today, the tabletop games retailer said strong sales for its third-quarter ending April 30 were poised to drive profits for the full year above expectations.
This follows an outstanding year for the retailer, which has enjoyed consistently strong profits and sales while swathes of the high street continue to struggle.
In January it reported a 53.6 per cent rise in sales to £108.9 million for the six months to November 26, while profits more than doubled on a year earlier from £13.8 million to £38.8 million.
It added that this was in part due to large portions of its sales coming from outside the UK, benefitting from the weakened pound while many more locally focused retailers were hit hard.
A 71 per cent boost in online sales also helped lift revenues in months where footfall and consumer spending have been hampered.
“It is encouraging that sales and profit growth continue across all regions and channels,” chief executive Kevin Rountree said in January.
“Given the high levels of operational gearing and our relentless management of our costs, our improving sales performance has translated into record profit and cash levels.
“We’re proud of the improving trends, but we are not taking anything for granted, our feet remain firmly on the ground as we stride into the year ahead.”
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