UK based Games Workshop posted slightly increased revenue this year. This was not due to any increase in sales – which Games Workshop described as ‘sluggish’ – but due to cost-cutting measures.
The news is pretty good. Although the increase in revenue is quite small in percentage terms; from £125.7m to £126.5m the company had warned markets earlier over poor performance. It then later rallied. The company opened 27 new stores but those new sales didn’t quite offset the declining performance of their current ones.
“Although there was some improvement in the second half, achieving consistent like for like growth in Hobby centres is currently our main focus.”
Pre-tax profits look better; they’ve more than doubled from £7.5m to £16.1m. Shareholders didn’t get paid a dividend last year but may now pick up 25p per share this year. At the time of writing this post Games Workshop’s share price is up 8% to 437.50p.