Games Workshop posts solid growth in revenue, profit

Games Workshop Group reported significant growth in both revenue and profit in its annual report on Tuesday, with core revenue rising to £494.7m, from £445.4m.

The FTSE 250 owner of brands including Warhammer said total revenue, including licensing, reached £525.7m for the 53 weeks ended 2 June, compared to £470.8m for the 52 weeks ended 28 May 2023.

On a constant currency basis, total revenue was £540.2m.

Core operating profit increased to £174.8m from £148.2m, with constant currency figures showing an even higher profit of £185.6m.

Licensing operating profit also saw a rise, reaching £27m from £22m, and £28.8m at constant exchange rates.

Overall, operating profit for the group was £201.8m, up from £170.2m, while profit before tax rose to £203m from £170.6m.

Earnings per share for the period totalled 458.8p, an increase from 409.7p the prior financial year.

Games Workshop declared and paid dividends of 420p per share, slightly up from 415p.

The group also reported a net increase in cash pre-dividends paid of £155.9m, slightly higher than the £155.5m recorded at the end of the prior year.

“After a record year, we will continue to focus on the things in our control,” said chief executive officer Kevin Rountree.

“We have a very clear strategy, which remains unchanged, a detailed operational plan for the year ahead and a great team to deliver it.”

At 0848 BST, shares in Games Workshop Group were up 0.3% at 10,230.5p.

Reporting by Josh White for Sharecast.com.