Games Workshop appoints new chair, trading in line

Games Workshop announced the appointment of a new non-executive chairman on Wednesday as it said trading since the last update in September has been in line with expectations.

The company, which makes miniature wargames, has appointed John Brewis as non-exec chair with effect from 1 January 2023. Brewis is taking over from Elaine O'Donnell, who served as a director for nine years and as chair for two.

Games Workshop also said that its estimate of the results for the six months to 27 November, at actual exchange rates, is for core revenue of not less than £210m, up from £191.5m in 2021, and licensing revenue of around £14m, down from £20.1m.

Pre-tax profit for the period is estimated at not less than £83m, compared to £88.2m in the same period a year earlier.

The group expects core operating profit of no less than £70m, versus £69.6m, and licensing operating profit of around £13m, down from £18.9m in 2021.

Games Workshop said licensing income fell to around £14m from £20.1m as there were a number of significant computer game licensing deals signed in the prior period.