Interim sales, profits jump at Games Workshop

(Sharecast News) - Games Workshop Group posted a "record" first half on Tuesday, as demand for its Warhammer battle figurines continued to soar. Revenues at the blue chip came in at £332.1m in the 26 weeks to 30 November, up from £299.5m a year previously. Pre-tax profits rose to £140.8m from £126.8m.

Kevin Rountree, chief executive, called it a "record half-year performance".

He continued: "We have again remained focused on delivering our strategic goal - to make the best fantasy miniatures in the world, to engage and inspire our customers and to sell our products globally at profit. We intend to do this forever."

The company said it had seen profitable sales growth across its 23 core markets and in all three channels, driven by weekly releases of new miniatures.

It also opened more stores during the period, although Rountree acknowledge the rate of expansion had been slower than expected. Games Workshop now has 575 shops worldwide, including 134 in the UK and 202 in North America.

Tariffs impacted profits by around £6m during the period, in line with forecasts for a hit of around £12m over the full year.

Looking to the second half, Games Workshop said core sales in the December had been "slightly ahead" of the same month a year previously. It did not, however, provide any further guidance regarding the full year.

Founded in 1975 as a maker of traditional wooden board games such as backgammon, Games Workshop's growth soared as it moved into miniature wargames. Played with figurines painted by dedicated hobbyists, the most well-know of its games is the hugely popular Warhammer.

In 2023 the Nottingham-based company signed a licensing deal with Amazon, which includes developing Warhammer films and television programmes.

The firm was promoted to the FTSE 100 last month.