Fantasy firm Games Workshop trading in line
Fantasy miniatures maker Games Workshop has pencilled in a healthy rise in first-half sales and profit as it hailed the performance of a key product.
The Nottingham-based firm said trading has continued in line with expectations in the six months to December 2, with sales set to come in 13% higher at £124 million.
Operating profit is set to nudge up from £38.8 million to £41 million.
The results were helped by the continued popularity of tabletop game Warhammer, which Games Workshop said is in “great shape”.
“We have built on the progress we made last year and the results are considerable given the backdrop of major projects, increasing factory capacity and enterprise resource planning system implementation,” the firm said.
Shares in Games Workshop came under pressure in October after the company warned over uncertain trading.
The FTSE 250-listed wargaming manufacturer said at the time that there are “some uncertainties in the trading periods ahead for the rest of the 2018/19 financial year”.
On Friday, shares rose 5% to 3,155p in early trade.
In June, staff at Games Workshop were handed a £5 million bonus following a year of solid sales and profits.
Games Workshop makes 75% of its revenues overseas, so has benefited from the Brexit-induced collapse in the pound.