Record results in ‘amazing year’ for games manufacturer

Fantasy games manufacturer Games Workshop has had a year that surpassed their imagination, delivering record results despite the pandemic.

Kevin Rountree, chief executive of the Nottingham-based company, said: “An amazing set of results – the best year in Games Workshop’s history, so far.”

Pre-tax profits were up 10% to £89.4m, increasing twice as fast as revenues, which grew 5% to £269.7m.

It had previously announced it would be paying back the Government support it received in the early weeks of lockdown after it saw how its sales were performing.

The company plans to maintain its momentum in the months ahead. In the autumn it will move into a 177,500 sq ft site at SEGRO Logistics Park East Midlands Gateway, which will become its main warehouse and distribution facility.

Rountree added: “You can once again see from these results that our business and the Warhammer hobby are in good shape.

“We look forward to the year ahead and will face any challenges head on and learn from our mistakes. We thank our staff and customers and other stakeholders for their continued support during these uncertain times.”

Games Workshop’s shares are trading close to an all-time high, and last night’s close was 15% higher than its pre-lockdown levels.

Russ Mould, investment director at AJ Bell, said: “The past seven months have felt like a different place, with the pandemic turning the world upside down. In order to cope with the troubles of life, many people have turned to the land of fantasy to find a different world to the one they are experiencing day to day.

“Games Workshop’s soaring sales are proof that its imaginary worlds have been much more appealing than present day Earth.

“A lot of its customers will have spent lockdown painting Games Workshop’s models and expanding their own collection of demons, wizards and warriors. Increased engagement also bodes well for the company’s strategic growth plan which focuses on exploiting its intellectual property through the creation of TV shows and other media projects.”