Games Workshop lands £25m overdraft and reveals profit predictions

Games Workshop, the Nottingham-headquartered fantasy games manufacturer and retailer has secured a £25m overdraft facility and has set out plans to resume trading with Europe and North America as it revealed its full-year profit prediction.

The company said it expects profits to come in at around £70m to the end of May. In December, Games Workshop revealed half year profits of £59.2m.

The firm, which shut down its entire operation on 24 March as a reaction to the coronavirus pandemic, says it has agreed the six-month overdraft “in principle” with Santander and will re-start trading on 1 May.

Games Workshop also said that its stores will start to re-open across the world as local restrictions are lifted.

A statement said: “As stated previously, trading for the Group in the nine months to the end of February was in line with expectations. However, since the outbreak of COVID-19 and the subsequent closure of our operations globally, our performance has been impacted. As we are now re-opening our sales channels, we estimate our profit before tax for the year ended 31 May 2020 to be no less than £70 million.”