Games Workshop in ‘good shape’ as profits lift higher

The Nottingham-based firm said it was buoyed by record sales across its UK stores over the past six months.

Games Workshop profits lifted over the past half-year (Owen Humphreys/PA) (PA Wire)

Bosses at Games Workshop said the Warhammer maker is in “good shape” as it revealed a jump in profits for the past six months.

The Nottingham-based firm said it was buoyed by record sales across its UK stores despite pressure on consumer finances due to the increased cost of living.

Total revenues grew by 9.3% to £247.7 million for the six months to November 26, the company told shareholders on Tuesday.

Kevin Rountree, chief executive of Games Workshop, said: “Games Workshop and the Warhammer hobby are in great shape.

Morale is good at Games Workshop and our hobbyists are having fun too

Kevin Rountree, Games Workshop

“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.”

The group’s largest division, its trade business which largely supplies independent retailers, saw sales grow by 12.6% to £136.1 million for the six-month period.

Retail revenues were meanwhile £54.7 million for the half-year, up from £48.7 million a year earlier.

Games Workshop said its Warhammer World site in Nottingham and Tottenham Court Road shop in London helped it to “record sales levels” across its UK retail business.

It said it opened 14 stores over the period, including relocations, and is on track for 30 new stores by the end of the financial year.

The update comes weeks after it finalised a deal with Amazon to make films and TV series based on the Warhammer fantasy games.

The deal, which came around a year after Games Workshop first reached an agreement in principle with Amazon Content Services, will grant Amazon exclusive TV and film rights to the company’s hit franchise Warhammer 40,000.