Shares in Games Workshop skyrocket to six-month high
Shares in fantasy games manufacturer Games Workshop surged to a six-month high On Friday morning (16 December) after the firm revealed it was close to signing a film and TV deal with Amazon.
The Nottingham firm’s share price opened at £74.35 before skyrocketing to highs of around £84 little more than half an hour after the news broke.
By close of trading on Friday, shares were changing hands for £84.83 – up over 16% on their opening price.
The proposed agreement would see Amazon develop Games Workshop’s intellectual property into films and television programmes. The manufacturer will also grant Amazon associated merchandising rights if the deal progresses.
In a statement to the London Stock Exchange this morning, Games Workshop said: “In advance of contracts being entered into, Amazon will be commencing certain development activities (such as holding preliminary discussions with writers) in order to facilitate the project. It is intended that rights will initially be granted to develop the Warhammer 40,000 universe.
“Whilst the parties have reached agreement on material commercial terms, the project is wholly dependent on and subject to contracts being agreed and entered into, which the parties are working towards.”
In July, Games Workshop posted revenues of £414.8m – up from £369.5m in 2021. Its profits before tax also increased from £150.9m to £165.5m in a performance the company described as “astonishing.”
Towards the end of last year the firm’s share price reached staggering highs of more than £110.