Games Workshop Reports 11% Core Revenue Growth on Strong Miniatures Sales

Games Workshop Group PLC (LON:GAW) reported an 11% year-over-year increase in core revenue for its full fiscal year, fueled by robust global demand for its fantasy miniatures. In a statement on Tuesday, the company also announced that its core operating profit climbed 15.7%, reflecting strong performance across its primary business segments.

Financial Performance in Detail

The company achieved record group revenue and profit before tax, attributing the growth to its core miniatures business across all sales channels and geographies. However, licensing revenue declined as expected, following a significant one-off product release in the prior year.

Key full-year financial results include:

• Core Revenue: £626.80 million
• Core Operating Profit: £245.10 million
• Pretax Profit: £275.70 million
• Earnings Per Share: £6.24

Operational Strength and Outlook

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Games Workshop credited its sales growth to operational improvements, including better stock forecasting and record volumes in manufacturing and warehousing. This operational efficiency helped meet strong consumer demand.

Looking ahead, the company stated it aims to expand its geographic footprint and achieve core sales growth every month. To support this ambition, Games Workshop plans to make further investments in its manufacturing and logistics capacity.

Identified Risks

While the results were strong, the company identified potential challenges to its operational plans. Key risks cited include the ongoing process of replacing its IT systems and the potential for future supply chain disruptions, which remain a consideration for global manufacturing firms.