- Nottingham-based group expecting half year sales of around £109m, up 54%
- Operating profits expected to be around £38m, up from £13.8m
- Share price up over 6%, having seen an increase of over 150% in a year
Games Workshop’s share price leapt over 6 per cent, after the figurines and fantasy games maker said strong half-year sales will boost its profits.
The Nottingham-based group estimates its first half sales rose to £109million, marking a near 54 per cent increase on a year ago.
The company, which has seen its share price increase by over 150 per cent in a year, is expecting operating profits of around £38million for the period, up from £13.8million a year earlier.
The company’s performance has also been helped by a strong customer reception to June’s launch of Warhammer 40k
Shares in Games Workshop are up 6.28 per cent to 2,081.00p.
According to FactSet figures, the performance of Games Workshop’s shares make it the top stock on the FTSE All-Share Index over the last year.
In September, the group declared a dividend of 35p per share, following strong sales figures in the first quarter.
The group, which makes three-quarters of its sales overseas, saw its annual profits rise from £16.9million to £38.4million last year and was given a boost by the dwindling value of the pound.
Games Workshop shares have rocketed over the past year after treading water previously
Commenting on how the company operates earlier this year, former chairman Tom Kirby said: ‘At heart Games Workshop is a simple business.
‘We make and sell toy soldiers. We do nearly all of it ourselves (because we haven’t found people who can do any of it better than us; maybe one day we will, we keep on looking) and that makes it fiendishly complicated.
‘Anyone can make a great miniature. No-one else can make 30 million of them a year and get them, on time, to our stores and trade partners all over the world and from there into the loving hands of our customers.’
Games Workshop makes miniature figurines and war games such as The Hobbit and Warhammer.
Despite experiencing tough trading conditions in 2015, the company has managed to fend off the perennial threat of video games, with warnings that fans of Games Workshop would turn to digital rivals failing to materialise.
The company has pumped out figurines to a fanatical audience since its formation in the 1970s, providing the parts for customers to assemble and paint their own armies.
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