Games Workshop Group PLC hails record first half performance as

On Jan 21, 2021

The FTSE 250 firm reported a pre-tax profit of £91.6mln compared to £58.6mln a year ago, while revenues jumped to £186.8mln from £148.4mln

() has hailed a record performance for the first half of its current year amid a surge in demand for its Warhammer figurines during the COVID-19 pandemic.

In its results for the six months to November 29, the FTSE 250 firm reported a pre-tax profit of £91.6mln compared to £58.6mln a year ago, while revenues jumped to £186.8mln from £148.4mln. Dividends declared during the period totalled 80p from 100p in 2019.

READ: Games Workshop declares dividend as it raises profit expectations

The company attributed the record performance to a “step change” in its range of Warhammer 40,000 figurines across the world, as well as good sales across its entire range. The firm added that is had “performed particularly well” in North America, a recent target of investment.

While COVID-19 had made things “more challenging”, the firm said its manufacturing and warehousing operations had worked will within new health and safety guidelines and had also managed a “significant increase in volume” compared to last year.

The biggest source of growth was from the firm’s online operation, which saw sales surge 87% year-on-year.

Looking ahead, Games Workshop said it will focus on delivering on its operational plan, adding that it has internal plans in place despite the uncertainty of COVID-19 and Brexit.

“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”, Games Workshop chief executive Kevin Rountree said in a statement.

“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”, he added.

Games Workshop shares were down 3.4% at 11,230p in early deals on Tuesday.