Games Workshop to report profit rise despite slip in licensing income

(Alliance News) - Games Workshop Group PLC on Wednesday said it expects to report an improved ...

Alliance News 14 June, 2023 | 7:24AM
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(Alliance News) - Games Workshop Group PLC on Wednesday said it expects to report an improved performance in its recently concluded financial year, thanks to its direct sales.

In a brief trading update, the Nottingham, England-based miniature wargames maker and retailer said it expects core revenue in the financial year ended May 28 to be not less than GBP440 million. This would be 14% higher than GBP386.8 million the year before.

Core revenue refers to direct sales of its core products to external customers, via its retail network, independent retailers, or online. It excludes licensing income, which is expected to fall 11% year-on-year to GBP25 million from GBP28.0 million.

Pretax profit is expected to rise to at least GBP170 million, which would be at least an 8.3% improvement from GBP156.5 million a year before.

Shares in Games Workshop were up 4.7% to 10,100.00 pence each in London on Wednesday morning.

The Warhammer seller also said it will increase profit-share cash payments to its staff to GBP11 million for the year, having paid out GBP9.9 million a year before. Dividends declared and paid in the recent year were GBP136 million total, or 415p per share. This compares with GBP77 million declared, or 235p per share, and GBP93 million paid, or 285p per share, in financial 2022.

Games Workshop plans to announce its full annual results on July 25.

By Elizabeth Winter, Alliance News senior markets reporter

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Games Workshop Group PLC 10,026.31 GBX -0.04 -

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