Games Workshop reports eighth year of sales and profit growth

The FTSE 250 company said that although licensing revenue experienced a slight decline from £28m to £25.4m, overall revenue for the 52 weeks ended 28 May reached £470.8m, compared to £414.8m in the prior year.

Adjusted for constant currency, revenue stood at £447.3m.

Games Workshop's core operating profit saw substantial growth, increasing from £131.7m in 2022 to £148.2m in 2023.

After adjusting for constant currency, core operating profit remained strong at £131.9m.

Licensing operating profit slightly decreased from £25.4m to £22m in 2023, and reached £19.9m when adjusted for constant exchange rates.

Overall, Games Workshop's operating profit jumped to £170.2m from £157.1m year-on-year, while profit before tax grew to £170.6m from £156.5m in 2022.

The firm reported a net increase in cash before dividends paid of £155.5m - a significant rise from the £79.3m it recorded in the prior year.

Additionally, earnings per share showed positive growth, rising to 409.7p from 391.3p in the prior year.

The dividends per share declared and paid during the period experienced substantial growth, with dividends declared standing at 415p, compared to 235p in 2022, and dividends paid at the same value.

“We finished the year having delivered eight consecutive years of group sales and profit growth,” said chief executive officer Kevin Rountree.

“In the period we reported the highest level of sales and the most profit we have generated since flotation 29 years ago.

“Our international team has been sensational again.”

Reporting by Josh White for Sharecast.com.