Games Workshop half-year profits surge 44%

Games Workshop half-year profits surge 44%
Games Workshop has rebranded many of its physical stores to Warhammer.
// Games Workshop pre-tax profit for the half-year to December 1 rose 44% to £58.6m
// Half-year sales rose 19% to £148.4m
// Sales in December were also in line with expectations

Games Workshop has hailed record sales and profits in its half-year report and was upbeat about its Christmas performance, as it continued to defy the challenges plaguing the retail sector.

For the six months to December 1, the miniature wargames retailer said its pre-tax profit rose 44 per cent year-on-year to £58.6 million.

Half-year sales grew 19 per cent to £148.4 million, while on a constant currency basis sales were up by 16 per cent to £145.6 million.

READ MORE: Games Workshop shares jump as bosses forecast soaring sales & profits

Of its sales, Games Workshop said trade generated £76.1 million, up from £61.4 million last year, retail generated £45.3 million compared to £42.6 million while online sales came in at £24.2 million, up from £21.2 million.

The retailer, which has rebranded much of its store estate to Warhammer but still trades as Games Workshop online, added that sales for the rest of December were in line with the board’s expectations and that the business was “in great shape”.

The firm said “product innovation” was a key focus during the half-year period, as well as the opening of 12 new stores and a 48 per cent surge in users of its community foums.

Games Workshop also announced a special dividend of 45p.

“Our business and the Warhammer hobby continue to be in great shape,” Games Workshop chief executive Kevin Roundtree said.

“We are pleased to once again report record sales and profit levels in the period.

“The global team have worked their socks off to deliver these great results. My thanks go out to them all.”

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