Games Workshop interims beat its expectations

(Sharecast News) - Miniature wargames manufacturer Games Workshop reported a better first-half performance on Tuesday than it had been expecting, as the group continues to benefit from Covid-19 restrictions and lockdowns.
In the six months to 29 November 2020, pre-tax profit rose to £91.6m from £58.6m in the six months to 1 December 2019, on revenues of £186.8m, up from £148.4m. In an update last month, the company, which makes Warhammer figurines, had guided to profit of not less than £90m and sales of around £185m.

Basic earnings per share came in at 226.1p from 145.9p and Games Workshop declared an interim dividend of 80p a share, down from 100p.

Chief executive officer Kevin Rountree said: "Another cracking performance from a truly amazing, global team; a solid six months building on the great progress and profitable growth we have been consistently delivering over the last five years.

"Finally, I'd like to thank our enthusiastic and loyal fan base who share our love for the Warhammer Hobby and the fantastical settings, characters and narratives that make up our IP. Their ongoing support and feedback have been invaluable, keeping us honest when we have fallen short and driving us onward to continue to deliver more and better."

At 0935 GMT, the shares were down 6.1% at 10,920p.

CMC Markets analyst Michael Hewson said: "The shares have certainly seen some decent gains since the middle of last summer and made a record close yesterday, so today's declines could be simply a case of locking in profits." Games Workshop