Half-Yearly Report: 2024–2025

1. 01
   Games Workshop Group PLC reported its best first half-year performance for the 26 weeks ended December 1, 2024, with total revenue reaching £299.5m, up from £247.7m in the prior year.See it on page 1
2. 02
   Operating profit significantly increased to £126.1m for the 26 weeks ended December 1, 2024, compared to £94.5m in the same period last year, with profit before taxation at £126.8m.See it on page 19
3. 03
   Core revenue grew by 14.3%, driven by strong performance in Trade (+21.7%) and Retail (+11.2%), although Online revenue decreased by 4.2%.See it on page 4
4. 04
   Licensing revenue saw substantial growth, increasing from £12.1m to £30.1m, with licensing operating profit rising from £11.1m to £28.0m.See it on page 21
5. 05
   Earnings per share rose to 288.9p for the 26 weeks ended December 1, 2024, up from 216.9p in the previous year.See it on page 18
6. 06
   Core gross margin decreased from 69.4% to 67.5% due to increased inventory provision, higher design costs from more new product launches, and increased animation costs for Warhammer+.See it on page 4
7. 07
   Warhammer+ subscriber numbers continued to grow, reaching 207,000 at the period end, up from 169,000 in the prior year.See it on page 7

Half-Yearly Report: 26 Weeks Ended 30 November 2025

Games Workshop Group · 2025

Half-Yearly Report: 2017

Games Workshop Group