Warhammer maker Games Workshop posts ‘astonishing year’ as sales and profits surge
Core revenue for Warhammer maker Games Workshop climbed 9.5 per cent this year to £386.8m as hobbyists flock to their games.
Despite Brexit adding £3.4m of additional supply chain cost, the British manufacturer of miniature wargames posted £156.5m in profit before tax, up 3.6 per cent.
The company paid £9.9m to staff to further reward their performance in helping boost profitability over the year. Total dividends declared in the period were £77m, 235 pence per share.
The company defines itself as an international business centrally run from a Nottingham HQ, with 78 per cent of sales coming from outside the UK.
CEO of Games Workshop Kevin Rountree said: “It’s been another astonishing year. I once again take great comfort that some things don’t change – our staff and customers love Warhammer. I thank you all for helping make this another very successful year.”
Commenting on the results, Director of Consumer at consultancy firm Edison Group Russell Pointon said: “After what management describes as ‘another astonishing year’, as is typical, there is no financial guidance for the coming year.
However, management points to priorities of keeping the hobbyists engaged, recruiting more hobbyists, mitigating the decline in gross margin, and getting major infrastructure projects over the line.
With 78% of revenue earned overseas, the recent weakness of sterling represents a tailwind for some revenue specifically U$ related, and headwind for some costs.”