// Games Workshop issues upgrade to profit forecast after enjoying surge in business from lockdowns
// It now expects half-year profits to be at least £90m, compared with £59m in the same period a year ago
// Sales for the period are expected to hit around £185m, up 25% from £148m a year ago
Games Workshop has issued an upgrade to the stock market after it emerged as another winner from Covid-19 lockdowns.
The Warhammer specialist retailer said the second national lockdown in England had brought a surge in extra business.
As a result, it now expected pre-tax profits to be no less than £90 million for the six months to the end of November, compared with £59 million in the same period a year ago.
READ MORE:
- Games Workshop faces shareholder revolt ahead of AGM
- Games Workshop beats expectations as shares rise 19%
- Games Workshop hails performance as sales smash £269m
This was ahead of an update at the start of the English lockdown, where predictions were for at least £80 million pre-tax profits.
Sales for the period are expected to hit around £185 million, up 25 per cent from £148 million a year ago.
Bosses said at the time online and trade sales had been particularly strong as gamers stayed home to paint figurines and build their collections.
“We are delighted with the global team performance in the first half given the backdrop of major projects and some government restrictions,” Games Workshop said this morning.
As a result of the strong boost in profits, Games Workshop also said it would be paying a dividend of 60p-a-share in line with its policy of distributing “truly surplus cash”.
Click here to sign up to Retail Gazette‘s free daily email newsletter
