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Evening Standard
Evening Standard
Henry Saker-Clark

Warhammer firm set for record revenues and profit jump

Games Workshop said it will post higher profits this year (Owen Humphreys/PA) - (PA Archive)

Warhammer maker Games Workshop is set to post record revenues and a jump in profits for the past year.

Shares in the London-listed firm ticked higher in early trading as a result.

The Nottingham-based retail business told shareholders on Friday that it expects to deliver at least £625 million of core revenue for the year to May 31.

It would represent a notable increase from £565 million in revenues a year earlier.

The stronger performance comes despite a slowdown in licensing revenues.

Games Workshop said licensing revenues linked to the Warhammer brand would be at least £30 million but are set to be lower from £52.5 million in the previous year.

Meanwhile, pre-tax profits are set to be at least £265 million for the year, up from £262.8 million a year earlier.

The profit increases comes despite the group facing higher tariff costs, forecasting that it would face around £12 million in costs from the import taxes this year, particularly in the US.

The company runs 575 stores globally, with North America its largest market with 202 stores and 134 shops in the UK.

Andrew Wade, equity analyst at Jefferies, said the fresh update pointed to “re-acceleration” in recent months after softer growth in December.

He added: “In all, a very solid trading performance – essentially as we had anticipated, and ahead of consensus expectations.”

Shares were 3% higher on Friday morning.

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