// Games Workshop staff given share bonuses worth £12m
// This is a £10m hike on the £2m awards given to staff the previous year
// Games Workshop says pre-tax profits set to nearly double to at least £150m, up from £89m the previous year
Around 2500 staff at retailer Games Workshop have landed share bonuses worth £12 million thanks to soaring profits as demand surged among locked-down hobbyists.
The group said each employee will receive £5000 in shares under its profit-share scheme.
The share bonuses – paid out during the year to May 30 – mark a £10 million hike on the £2 million awards given to staff the previous year.
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Games Workshop, which trades as Warhammer on the high street, said they were handed out to staff on an equal basis.
Its bonus cheer comes as the Warhammer maker said annual pre-tax profits were set to nearly double to at least £150 million, up from £89 million the previous year.
Sales are expected to hit “not less than” £350 million, up 30 per cent on the year before, thanks to fans of its table-top games spending more on its products as they remained stuck at home during Covid-19 restrictions.
Games Workshop said the share bonuses were made “in recognition of our staff’s contribution to these results”.
As well as the staff share awards, Games Workshop also delivered good news to investors as it said it would pay out a 50p-a-share dividend in July, taking its total dividends for the year to 235p-a-share, up from 145p-a-share the previous year.
Games Workshop has been able to offset lockdown store closures by shifting sales online and through wholesale trading.
In its first half, sales through its ecommerce platforms increased by 87.7 per cent to £46 million, while wholesale trade sales increased 33 per cent to £104.9 million.
It revealed in January that pre-tax profits jumped by 56.3 per cent to £91.6 million for the six months to November 29, compared with a year ago.
with PA Wires