Half-Yearly Report and Trading Update

Games Workshop projects full-year pre-tax profit will likely not exceed £16 million following disappointing December sales figures.

Pre-tax profit remained stable at £6.3 million for the six months ending November 29, 2015, despite a 2.2% decline in reported revenue to £55.3 million.

Core operating profit fell by £0.8 million, driven by unfavorable exchange rate fluctuations and increased capital investment in retail infrastructure.

Licensing royalties doubled to £1.5 million, providing a positive offset to a notable decline in retail sales, particularly within Continental Europe.

Net cash from operating activities increased to £8.57 million, though total cash and cash equivalents fell to £7.8 million after the distribution of £6.4 million in dividends.

Basic earnings per share saw a slight increase to 14.9p, supported by a profit of £4.78 million attributable to owners.