Games Workshop shares jump as bosses forecast soaring sales & profits

Games Workshop shares profits sales soar half year
Games Workshop has seen its shares rise by 700% over the past 3 years and now has a market value of over £1.4bn.
// Games Workshop shares jump 15.4% amid positive forecasts from bosses
// The retailer expects sales to come in at least $140m for the first half, compared to £125.2m last year
// Games Workshop also expects pre-tax profits to jump from £40.8m to at least £55m

Games Workshop has seen its shares jump higher after telling investors that sales and profits are set to surge for the first half of the year.

The retailer said it expected sales for the six months to December 1 to be at least £140 million.

During the six-month period to December last year, the retailer posted revenues of £125.2 million and has seen sales continued to increase since.

The Nottingham-headquartered games and figurines retailer added it expected pre-tax profits for the period to be at least £55 million.

READ MORE: Games Workshop revenue smashes £250m in “best year” yet

Over the equivalent period last year, it posted profits of £40.8 million but expects the rise on the back of improving sales.

In a statement to investors, Games Workswhop said: “Following on from the group’s update in September, trading to November 3 has continued well.

“Compared to the same period in the prior year, sales and profits are ahead.

“Royalties receivable are also significantly ahead of the prior year driven by the timing of guarantee income on signing new licences.”

The retailer has seen its shares rise by 700 per cent over the past three years and now has a market value of over £1.4 billion.

Shares in the company rose by 15.4 per cent to 5200p in early trading this morning.

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