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Games Workshop to report profit rise despite slip in licensing income

ALN

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 £440 million. This would be 14% higher than £386.8 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 £25 million from £28.0 million.

Pretax profit is expected to rise to at least £170 million, which would be at least an 8.3% improvement from £156.5 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 £11 million for the year, having paid out £9.9 million a year before. Dividends declared and paid in the recent year were £136 million total, or 415p per share. This compares with £77 million declared, or 235p per share, and £93 million paid, or 285p per share, in financial 2022.

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

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