Games Workshop’s shares have soared by 15% after the company released a positive trading update. The FTSE 100 firm, known for its popular Warhammer miniature wargames, reported that its trading performance has surpassed expectations over the past two months. This strong showing has led to a significant increase in the company’s share price, with investors eager to capitalize on the firm’s growing success.
According to the update, Games Workshop’s core revenue for the six months to December 1 is expected to reach at least £260 million, a 10% increase from the same period last year. Licensing revenue is also expected to double to £30 million, up from £13 million in 2023/24. The company’s profit before tax is anticipated to rise by 25% to £120 million, a significant improvement from the £96.1 million reported last year.
This strong performance is a welcome boost for Games Workshop, which has faced criticism in recent months over its executive pay practices. The company’s decision to award millions in bonuses to its top bosses sparked a major shareholder revolt, with many investors expressing concerns over the firm’s governance and remuneration policies.
However, today’s trading update suggests that Games Workshop’s underlying business remains strong, with the company’s core revenue and licensing income driving growth. As the firm continues to expand its popular Warhammer franchise, investors will be watching closely to see if this momentum can be sustained in the long term. For now, Games Workshop’s shares are basking in the glow of a successful trading update, with the company’s stock price reaching 13,330.00 pence on the FTSE 250.
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