Games Workshop Reports Strong Profit Growth on Robust Core Miniatures Sales
Games Workshop's Financial Performance and Market Outlook
May 22 (Reuters) - British miniature wargames maker Games Workshop on Friday forecast annual profit ahead of market expectations, driven by a surge in core miniatures sales following a record prior year boosted by blockbuster video game Space Marine 2.
Key Financial Highlights
Here are some details:
Profit and Revenue Growth
• The company estimated profit before tax of not less than £265 million ($355.63 million) for the 52 weeks ending May 31, compared with analysts' expectations of £251.05 million, according to LSEG data, and up from £262.8 million a year earlier.
Core Revenue Drivers
• Core revenue, the firm's primary earnings driver from sales of miniatures, rulebooks and paints is expected to grow about 10.6% to not less than £625 million year over year.
Licensing Revenue
• Licensing revenue is forecast at not less than £30 million, down from £52.5 million the previous year.
Company Growth and Market Position
• The Nottingham-based company has more than doubled its annual revenue over five years, from £269.7 million in fiscal 2020.
• Games Workshop, the only publicly listed pure-play miniatures company globally, last traded at £190.5 per share, valuing it at about £6.30 billion.
Upcoming Announcements
• The FTSE 100 company plans to publish its annual results on July 28.
($1 = £0.7452)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Nivedita Bhattacharjee)