Key insights
7 takeaways · ~3 min read- 01Games Workshop Group PLC reported significant growth for the six months to November 27, 2016, with total revenue increasing to £70.9m from £55.3m in the prior year, and operating profit more than doubling to £13.8m from £6.2m.See it on page 1
- 02Profit before tax for the period surged to £13.8m, up from £6.3m in the previous year, while basic earnings per share more than doubled to 34.0p from 14.9p.See it on page 5
- 03The company experienced sales and profit growth across all channels, with Trade revenue increasing to £29.3m (actual rates) from £22.4m, Retail to £29.2m from £21.5m, and Mail Order to £12.4m from £11.4m.See it on page 3
- 04A change in accounting estimates for amortisation of development costs and depreciation of moulding tools, effective May 30, 2016, positively impacted operating profit by £0.8m for the six months to November 27, 2016.See it on page 9
- 05Cash generated from operations saw a substantial increase, rising to £19.6m from £8.6m in the comparable period, and dividends per share declared increased to 25p from 20p.See it on page 3
- 06Royalty income from licensing significantly increased from £1.5 million to £3.3 million, contributing to the overall profit growth.See it on page 3
- 07Key risks identified for the remainder of the year include ERP change, store manager recruitment, supply chain changes (mail order warehouse system), range management, and general distractions.See it on page 4
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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