Games Workshop says it has still not signed an agreement with Amazon over a film and TV tie-in – but the pair still expect to work together.
The Nottingham miniatures, books and games business said it was confident it will be able to bring the worlds of its huge Warhammer brand to the screen “like you have never seen before”.
The fantasy games business announced last month that it was planning talks with writers over developing, in the first instance, its Warhammer 40,000 universe.
Back in December the Hollywood Reporter said Henry Cavill would star in and executive produce an adaptation, after he confirmed he will not be returning to play Superman.
The update comes as Games Workshop revealed pre-tax profits were down in the half year to the end of November at £83.6 million, compared to £88.2 million a year before.
Core revenues grew by 10.9 per cent year-on-year to £212.3 million, helped by record sales in Australia, Canada and the UK. Licensing brought in a further £14.3 million, down from £20.1 million a year before.
The business said it had added 119 new trade outlets in North America and senior management were working on improving US sales.
All its products are made at three factories in Nottingham where it employs 415 people.
Chief executive Kevin Rountree said: “Games Workshop and the Warhammer hobby are in great shape.
“Another rewarding and successful period for the global team with core sales for the six months of over £200 million for the first time.
“We will continue to focus on making the best miniatures in the world, sign new licensing contracts with partners to exploit our IP outside of our core business and support our staff.
“I’m so proud of their considerable hard work and commitment, thank you all.”
In its half year results the Lenton-based company said the extra costs of trading caused by Brexit were now seen as a “new cost of doing business”.
The business said it recently opened a new sales office in Barcelona but had lost £2 million in sales from Russia following that country’s illegal invasion of Ukraine.
The Games Workshop update said as well as growing general sales and talking to Amazon, it was also looking for more opportunities for video game spin-offs, with recent computer games launches of Warhammer III, Chaos Gate, Darktide and Tacticus for mobile. It said an electronic version of Blood Bowl 3 would launch in February.
Market analysts said it was apparent the business had experienced some growing pains, particularly with its global sales.
Russ Mould, investment director at online stockbroker AJ Bell said: “In many ways it is a positive that management are willing to be so open about the need to learn and improve the way its range of brands and new releases are brought to market.
“An upgrade to its IT systems is also taking longer and costing more than it previously expected. It is crucial that it gets the basics like this in place if it is to thrive as a global business.
“A significant drop in licensing revenue is interesting given the excitement around the company’s proposed deal with Amazon to create content based on the Warhammer brand.
“A final deal isn’t signed or sealed yet and even if or when it is made official it could be several years before any TV or film projects hit the screens and for Games Workshop to receive royalty payments.
“Games Workshop has an excellent proposition in a brand with a growing and extremely loyal cohort of followers, it just needs to bring its infrastructure up to speed to take full advantage.”
