Business

Games Workshop ups full-year profit forecast

Games Workshop said that solid sales in the last quarter will help full-year profits to come in above expectations

FANTASY miniatures maker Games Workshop has upgraded its profits forecast for the full year.

The Nottingham-based group said that a solid few months of sales in the three months to April 30 will help full-year profits to come in "slightly above expectations".

Stellar results have been helped by online sales and the continued popularity of tabletop game Warhammer.

In a stock market announcement, the firm said: "Following on from the group's update on February 5 2018, the good growth trends have continued to the end of April.

"Sales and, given the high operational gearing of the business, profits for 2017/18 to date are therefore slightly above expectations."

At half-year results in January, the firm unveiled a 54 per cent rise in sales to £108.9 million, while profits jumped from £13.8 million to £38.8 million.

Over the past 12 months, Games Workshop shares have risen by more than 150 per cent as the firm continues to bounce back from a difficult period when sales faltered.

Games Workshop makes 75 per cent of its revenues overseas, so has benefited from the Brexit-induced collapse in the pound.

Shares were up 1 per cent in morning trade.

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