Updated Mar 17, 2026 by Games Workshop Group
Games Workshop reported record financial performance for the 26 weeks ending November 30, 2025, with total revenue rising 10.9% to £332.1 million and profit before tax reaching £140.8 million.
Core business growth was driven by a 25.2% increase in trade channel revenue to £207.4 million, bolstered by successful product launches including the Space Wolves army box and updates to Horus Heresy and Age of Sigmar.
Licensing revenue fell by nearly half to £16.0 million compared to the previous year, primarily due to the absence of a major release comparable to the prior-year launch of Space Marine 2.
To offset £6.0 million in US tariff costs and protect a 69.4% gross margin, the company implemented a 3.5% price increase across its products.
The company is aggressively expanding infrastructure, with a fourth factory planned for 2026 and a robotic UK warehouse scheduled for 2027, supported by a strong cash position of £171.1 million.
Warhammer+ reached 248,000 subscribers, while the company maintains a strict policy against using artificial intelligence in creative processes to preserve brand integrity.
The group returned £74.2 million to shareholders in dividends while maintaining a global retail footprint of 575 stores and continuing progress toward 2032 carbon emission targets.
Games Workshop reported record financial performance for the 26 weeks ending November 30, 2025, with total revenue rising 10.9% to £332.1 million and profit before tax reaching £140.8 million.
Core business growth was driven by a 25.2% increase in trade channel revenue to £207.4 million, bolstered by successful product launches including the Space Wolves army box and updates to Horus Heresy and Age of Sigmar.
Licensing revenue fell by nearly half to £16.0 million compared to the previous year, primarily due to the absence of a major release comparable to the prior-year launch of Space Marine 2.
To offset £6.0 million in US tariff costs and protect a 69.4% gross margin, the company implemented a 3.5% price increase across its products.
The company is aggressively expanding infrastructure, with a fourth factory planned for 2026 and a robotic UK warehouse scheduled for 2027, supported by a strong cash position of £171.1 million.
Warhammer+ reached 248,000 subscribers, while the company maintains a strict policy against using artificial intelligence in creative processes to preserve brand integrity.
The group returned £74.2 million to shareholders in dividends while maintaining a global retail footprint of 575 stores and continuing progress toward 2032 carbon emission targets.