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Games Workshop sees online sales surge over lockdown as latest financials beat expectations

Games Workshop is continuing to play its role as the Great British success story, having reported that trading in the three months to August 30th was ahead of the board’s expectations thanks in part to a solid online performance.

The miniature wargaming company has said current estimates show sales of around £90m during the period, up from £78m in the same period a year prior. The manufacturer, retailer, brand and franchise owner said that sales had been driven by a healthy growth in its online and trade channels.

Games Workshop’s retail channel is still in recovery mode having been closed due to Covid-19 measures earlier this year. Eventing and gaming spaces like this have taken a knock during the lockdown measures, however there is hope that with tighter rules around group gatherings now in place, this can start to see a pick up.

Meanwhile, the Warhammer franchise saw a boost in celebrity endorsement when the British actor, Henry Cavill outed himself as a Games Workshop fan via YouTube.

Operating profit for the business before royalty income is now estimated at around £45m, up from £28m in 2019 and royalty income is expected to rise to £3m from £2m.

“The board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year,” said the firm in a statement. “A further update will be given as appropriate.”

Games Workshop declared a 50p per share dividend, in line with its policy to distribute truly surplus cash. This will be paid on 23 October for shareholders on the register at 18 September.

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