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Games Workshop Group PLC on Tuesday upped its full-year dividend, after reporting higher annual revenue and profit. The Nottingham, England-based miniature wargames maker and retailer reported revenue of £470.8 million in the year to May 28, up 14% from £414.8 million a year earlier. Trade revenue rose to £248.0 million from £214.3 million, retail revenue jumped to £106.4 million from £87.2 million, and online revenue rose to £91.0 million from £85.3 million. However, licensing revenue fell to £25.4 million from £28.0 million. Pretax profit rose 9.0% to £170.6 million from £156.5 million. The Warhammer seller also said it has increased 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 £136.5 million total, or 415p per share. This compares with £77.1 million declared, or 235p per share, and £93.5 million paid, or 285p per share, in financial 2022. In line with the strong set of results and the company’s policy of distributing surplus cash, Games Workshop said it has also declared a dividend of £1.45 per share in financial 2024 so far. This is 61% higher than financial 2023’s dividend of 90p. Chief Executive Officer Kevin Rountree said: ‘We finished the year having delivered eight consecutive years of group sales and profit growth - in the period we reported the highest level of sales and the most profit we have generated since flotation 29 years ago.’ Shares in Games Workshop were down 1.6% to 11,134.78 pence each in London on Tuesday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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