Games Workshop trading beats expectations

Games Workshop said it was trading ahead of expectations after online and trade sales more than made up for the closure of its stores.

The miniature wargames maker predicted first-half pretax profit of at least £80m - up from £58.6m a year earlier. The statement was the company's second profit upgrade in less than two months.

Games Workshop said trading had beaten board expectations since its last update in September driven by growth in online and trade channels. Its Warhammer stores in England are closed under the government's second Covid-19 lockdown and shops in other countries are closed too.

The shops, which sell the company's fantasy miniature figures, were forced to shut earlier in 2020 during the first wave of lockdowns. The company's factory and warehouses are operating under Covid-secure measures.

"The board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year," Games Workshop said. "A further update will be given as appropriate."