Key insights
7 takeaways · ~3 min read- 01Games Workshop Group PLC reported record sales and profit for the six months to November 26, 2017, with revenue increasing by 53.6% to £108.9 million (from £70.9 million in 2016) and operating profit soaring by 181.2% to £38.8 million (from £13.8 million in 2016).See it on page 1
- 02This strong performance translated into significantly higher earnings per share, which rose from 34.0p in 2016 to 97.6p in 2017, and a substantial increase in dividends declared, from 25p to 61p per share.See it on page 14
- 03Growth was broad-based, with sales and profit increasing across all regions and channels, including a 71% rise in online shop sales and a 22% increase in digital publication sales through Apple, with new distribution channels like Amazon and Audible also launched.See it on page 3
- 04The company's focus on its 'Warhammer Hobby' and continuous improvement of its miniatures range, combined with effective cost management, contributed to these record financial results and strong cash generation (£41.2 million from operations).See it on page 2
- 05Games Workshop also saw significant growth in its Trade segment (up 63.5% to £47.96 million) and Mail Order segment (up 71.2% to £21.28 million) in external revenue for the period.See it on page 1
- 06A change in accounting estimates for amortisation of development costs and depreciation of moulding tools positively impacted operating profit by £1.2 million and net assets by £2.24 million for the period.See it on page 10
- 07The company maintains a strong financial position with net funds of £28.6 million at the end of the period, up from £15.9 million in 2016, and plans to continue investing in its team and facilities.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 26 November 2017. 26 November 27 November Revenue £108.9m £70.9m Revenue at constant currency £108.6m £70.9m Operating profit pre-change in accounting estimates and royalties receivable £33.4m £9.7m Impact of change in accounting estimates ...
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