Updated Mar 17, 2026 by Games Workshop Group
Games Workshop achieved record sales of £191.5 million for the six months ending 28 November 2021, a 3% year-over-year increase driven by strong trade and retail performance.
Profit before tax declined to £88.2 million from £91.6 million, impacted by £2 million in Brexit-related shipping costs, raw material inflation, and higher staff expenses.
Licensing royalties rose to £20.1 million, supported by the launch of the Warhammer+ subscription service and a record-breaking Warhammer Age of Sigmar release.
Online sales fell by 10% as consumer behavior shifted back toward physical storefronts and independent retailers following the pandemic.
Net cash from operating activities decreased to £76.5 million, largely due to a £32.0 million increase in trade receivables and outstanding European VAT receipts.
The company is investing £6 million in web store infrastructure and expanding manufacturing capacity with 43 active injection moulding machines to support long-term scalability.
The financial position remains stable with £88.6 million in cash, supporting declared dividends of 115 pence per share.
Games Workshop achieved record sales of £191.5 million for the six months ending 28 November 2021, a 3% year-over-year increase driven by strong trade and retail performance.
Profit before tax declined to £88.2 million from £91.6 million, impacted by £2 million in Brexit-related shipping costs, raw material inflation, and higher staff expenses.
Licensing royalties rose to £20.1 million, supported by the launch of the Warhammer+ subscription service and a record-breaking Warhammer Age of Sigmar release.
Online sales fell by 10% as consumer behavior shifted back toward physical storefronts and independent retailers following the pandemic.
Net cash from operating activities decreased to £76.5 million, largely due to a £32.0 million increase in trade receivables and outstanding European VAT receipts.
The company is investing £6 million in web store infrastructure and expanding manufacturing capacity with 43 active injection moulding machines to support long-term scalability.
The financial position remains stable with £88.6 million in cash, supporting declared dividends of 115 pence per share.