Key insights
6 slides
Top line
Total revenue increased to £70.9m from £55.3m in the prior year.
Games Workshop reported significant growth for the six months to 27 November 2016. Revenue at constant currency was £62.7m.
Profitability
Operating profit more than doubled to £13.8m from £6.2m.
Profit before tax surged to £13.8m, up from £6.3m in the previous year. Basic earnings per share more than doubled to 34.0p from 14.9p.
Channel mix
Sales and profit growth occurred across all channels.
Trade revenue increased to £29.3m from £22.4m. Retail revenue rose to £29.2m from £21.5m, and Mail Order to £12.4m from £11.4m.
Channel growth. Trade, Retail, and Mail Order revenues all increased year on year.
Cash flow
Cash generated from operations rose to £19.6m from £8.6m.
Dividends per share declared increased to 25p from 20p. Royalty income from licensing increased from £1.5m to £3.3m.
Accounting change
A change in accounting estimates positively impacted operating profit by £0.8m.
It was effective from 30 May 2016.
Risks
Key risks include ERP change, store manager recruitment, and supply chain changes.
Other identified risks include mail order warehouse system changes, range management, and general distractions.
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Summary
Games Workshop Group PLC (“Games Workshop” or the “Group”) announces its half-yearly results for the six months to 27 November 2016. 27 November 29 November Revenue £70.9m £55.3m Revenue at constant currency £62.7m £55.3m Operating profit pre-change in accounting estimates and royalties receivable £9.7m £4.7m Impact of change in accounting estimates ...
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