Games Workshop Shooting for Great Success
Warhammer’s owner published its half-year results today (9th January), and has continued to post strong results, which were robust throughout the Coronavirus pandemic and as the economy returned to normal, the company said.
As a result, revenue for the company rose by 9.3% to GBP247.7 million, operating profit up 13% to GBP94.5 million, and profit before tax up nearly 14% to GBP95.2 million. Dividends were paid of 120p/share (2023/24) to GBP3.15/share.
In a report published by The Armchair Trader, Games Workshop’s main product line is sold in its high-street stores, which remain popular. Games Workshop is unlikely to leave the high street, unlike many retail giants. However, it has been developing its online presence, providing customers with access to its products.
According to the company, its online sales grew 6.8% on a constant currency basis. The company’s main investment was GBP10.8m into a new online store, for which it says: “We do not expect any additional significant investment in the coming years.”.
Additionally, Games Workshop has built a centralized East Midlands warehouse to serve UK and European customers; acquired robotics to streamline the picking process in North America, and acquired sites in Australia.
Kevin Rountree, Games Workshop’s CEO said in a statement this morning: “Games Workshop and the Warhammer hobby are in great shape. We continue to perform well during challenging economic times, delivering record group revenue, profit, and dividends in the period. Morale is good at Games Workshop and our hobbyists are having fun too.”
Due to high demand, the company had to relocate its old warehouse. During this period, it opened 14 stores, including relocations, and it is due to open 30 new stores for the fiscal year
In a nostalgic call to gamers, Games Workshop recently resurrected Old World Warhammer, the original IP for its wargame series that runs alongside Age of Sigmar. The company expects more mature gamers to get back into the hobby.
