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Multichannel Games Workshop predicts strong rise in first-half sales and profits

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Games Workshop today said it expected to see sales rise by a quarter and profits by more than half in the first six months of its financial year. The update comes at a time when the multichannel games business has outperformed against the backdrop of Covid-19, despite initially closing all its shops, its factory, its warehousing and its online business for six weeks during the first lockdown. 

Games Workshop now predicts, in a half-year trading update, that it will turn over £185m in the first six months of its financial year – 25% up from the £148m it turned over at the same time last year, and pre-tax profits of £90m, up 52% from £59m last time. 

The retailer, ranked Top350 in RXUK Top500 research, says it is “delighted with the global team performance in the first half, given the backdrop of major projects and some government restrictions.”

Games Workshop issued what it described as the best set of results in its history so far this summer. In its last financial year, to the end of May, the retailer saw 52% of its £256.6m sales (5% up on the previous year) come via some 4,900 third-party retailers selling online and in-store. More than a quarter (29%) came via its own 531 shops in 23 countries, and 19% via its own website. Its own shops support in-store online ordering so customers can buy from the full range while they are in the shop. It also saw full-year profits rise by 10% to £89.4m. 

Games Workshop sells fantasy miniatures around its Warhammer games and during its last financial year also expanded into selling Warhammer merchandise. 

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