Games Workshop sees profit, revenues ahead of expectations

15th Sep 2023 07:04

(Sharecast News) - Shares in Games Workshop Group surged on Friday after the Warhammer maker said trading for the quarter to August 27 was ahead of expectations, driven by healthy growth across all channels.

In a brief trading update ahead of its annual shareholders meeting next week, the company said core revenue had risen to £121m for the quarter, ahead of the £106m posted last year with licensing revenue doubling to £6m. Pre-tax profit was estimated at around £57m, up from £39m.

Shares were up almost 12% in London trade.

"The board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year. A further update will be given as appropriate," the company added.

It also declared a dividend of 50p per share taking dividends declared so far in 2023/24 to £1.95 per share, up from £1.20 per share a year earlier.

Reporting by Frank Prenesti for Sharecast.com