Games Workshop achieved record-breaking financial results for the 2019/20 fiscal year, with revenue rising 5.1% to £269.7 million and profit before tax reaching £89.4 million.
See it on page 3The trade segment now accounts for 52% of total revenue, supported by a significant increase in royalty income from video game and media licensing.
See it on page 54North America remains the company's largest market, contributing £104.8 million to total revenue despite pandemic-related operational disruptions.
See it on page 57The company invested £18 million in capital projects, including production and logistics expansions in Nottingham and North America and the implementation of a new ERP system.
See it on page 13Physical retail sales declined by 11% due to pandemic-related closures, though this was offset by growth in digital engagement and online sales.
See it on page 11The company maintained a strong financial position with £52.9 million in cash and no utilized borrowing facilities, enabling a dividend payout of 145 pence per share.
See it on page 62The adoption of IFRS 16 accounting standards resulted in the recognition of £32.1 million in lease liabilities on the balance sheet.
See it on page 56Games Workshop achieved record-breaking financial results for the 2019/20 fiscal year, demonstrating significant resilience despite the operational disruptions caused by the COVID-19 pandemic. Annual revenue rose 5.1% to £269.7 million, while profit before tax reached £89.4 million. This performance marks the fourth consecutive year of record growth, driven primarily by a robust trade segment—which now accounts for 52% of total revenue—and a substantial increase in royalty income from licensing agreements in the video game and media sectors.
The company’s strategic focus remained on the global expansion of its Warhammer intellectual property and the modernization of its industrial infrastructure. Significant capital investments totaling £18 million were directed toward production and logistics expansions in Nottingham and North America, alongside the implementation of a new ERP system. While physical retail sales declined by 11% due to pandemic-related store closures, digital engagement and online sales saw marked growth. The company also successfully navigated the transition to IFRS 16 accounting standards, which brought £32.1 million in lease liabilities onto the balance sheet.
Geographically, North America remains the company's largest market, contributing £104.8 million to total revenue. Despite the economic uncertainties of the pandemic and Brexit, the Group maintained a strong liquidity position, ending the period with £52.9 million in cash and no utilized borrowing facilities. This financial stability allowed the board to maintain its commitment to shareholders through dividends of 145 pence per share and to support its workforce by providing full pay during shutdowns and distributing profit-share bonuses to all staff. The report concludes with a focus on long-term sustainability, ethical sourcing, and continued IP exploitation to ensure future viability.
