Games Workshop Expects Strong First Half Though Notes Challenges Ahead

LONDON (Alliance News) - Games Workshop Group PLC on Thursday said sales and profit levels in the six months ended November 27 were "significantly ahead" of the prior year and ahead of its original expectations.

The fantasy miniatures manufacturer and retailer said it expects to post an operating profit of around GBP13.0 million for the first half of its financial year, based on preliminary estimates.

Over the six month period, Games Workshop said it has seen "strong sales and profit growth" on a constant currency basis, and has further benefitted from the favourable impact of the weaker pound. Its biggest currency exposures are to the euro and dollar.

Royalty income is also expected to be ahead of the prior year for the first half.

Games Workshop said, however, it is aware that it is still early in the financial year to the end of May and noted there were a number of challenging trading periods ahead.

Games Workshop will announce its interim results on January 10.

Shares in Games Workshop were up 5.3% at 615.25 pence on Thursday.

By Hannah Boland; hannahboland@alliancenews.com; @Hannaheboland

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