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GAMES WORKSHOP: A better year - ToyNews

GAMES WORKSHOP: A better year

Games Workshop says revenue for the year ended 1st June has risen.
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The company’s revenue has risen from £109.5 million in 2007 to £110.3 million.

Operating profit was at £2.5 million, compared to a loss of £1.8 million last year and the company generated pre-tax profit of £1.1 million in the period, compared to a loss of £2.6 million year on year.

Tom Kirby, chairman of Games Workshop, said: “We have had a better year. Not as good as we would like, not as good as it will be, but better nevertheless”.

The measures taken to reduce costs included the closure of 18 outlets, including five in the UK and the closure of its tool making facility at Wisbech, UK, which have been moved to Nottingham.

Last year Kirby referred to a “steely determination in the business to put things right”. Today, chief executive Mark Wells said: “That steely determination is embedded in our attitude to costs, to performance and to driving the return on equity capital which we know that this business can generate in the future.”

Management training has also been key in turning the fortunes of the firm. Wells added: “The main source of risk to this business remains management error. This is one of the reasons why management recruitment, development and succession planning are so important."

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