City briefs: Games Workshop; Yü Group; Microlise

Revenue and profits at Nottingham-based fantasy games manufacturer and retailer Games Workshop have risen again – fo the eigth consecutive year.

Revenue reached almost £471m for the year to 28 May, while profit before tax was up to £170.6m.

Kevin Rountree, CEO of Games Workshop said: “We finished the year having delivered eight consecutive years of Group sales and profit growth – in the period we reported the highest level of sales and the most profit we have generated since flotation 29 years ago. Our international team has been sensational again, thanks to you all.”

Yü Group, the Nottingham supplier of gas, electricity, meter asset owner and installer of smart meters to the UK corporate sector, has seen “accelerating” revenue growth in the six months to June 30 with the group expecting to outperform revenue expectations for its fully year. The number of supplied meter points grew 56% in the period to 39,700.

Record average monthly bookings of £51.3m were achieved for the period, up 109% on 2022.

Bobby Kalar, CEO, said: “We are delighted to have accelerated our strong trading momentum and our growth continues to surpass expectations. We continue to deliver strong financial performance as more customers lock in the benefit of a softening commodity market. Alongside this growth and underpinned by our ‘Digital by Default’ platform and smart meter installation business we see revenue and profitability growth in FY 23 and beyond. We are as excited as ever about the future of Yü Group and remain focussed on exceeding our previously stated £500m revenue target and increased 5% EBITDA margin.”

Nottinghamshire-based Microlise, the provider of transport technology solutions to fleet operators, has reported “solid” trading during the first half of FY23, in-line with management expectations.

Revenue for the first half of the year is expected to show growth of 10% to £33.9m with anticipated adjusted EBITDA1 growth of 4% to £4.5m.

Nadeem Raza, CEO, Microlise said: “We are very pleased with the performance of the Group during H1, given the many challenges we have had to overcome. These have included supply chain issues and a shortage of new vehicles coming to market, both of which hampered our ability to deliver solutions, though not to secure sales, such that our order book is at a record level.

“We enter the second half in a strong position. With supply chains improving coupled with the expectation that vehicle deliveries will also improve in H2, the Board are confident in the Group’s continued successful growth.”