REG - Games Workshop Group - Trading Update

Games WorkshopAnnouncement

08/12/2021 07:00

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RNS Number : 8983U  Games Workshop Group PLC  08 December 2021

For immediate release
 
                8 December 2021

 

Games Workshop Group PLC

("Games Workshop")

 

TRADING UPDATE

 

Games Workshop is pleased to confirm that trading since the last update in
September 2021 is in line with expectations. The Board's estimate of the
results for the six months to 28 November 2021, at actual exchange rates, is
sales of not less than £190 million (2020: £186.8 million) and profit before
tax of not less than £86 million (2020: £91.6 million).

 

At constant currency, the Board's estimate of sales for the six months to 28
November 2021 are not less than £197 million (2020: £186.8 million). This
has been driven by growth in our trade and retail channels, following the
reopening of the majority of our retail stores.

 

As always, we remain focused on our core business metrics and are working
tirelessly to improve the ones that are in our control. Our operating
profit-pre royalties receivable is estimated to be down c.£15 million.
However, excluding foreign exchange movements, increased carriage costs and
the costs of paying more to our great staff, our core business operating
profit is broadly in line with last year's exceptional performance.

 

As in the prior year, we are paying £2,500 in cash to each employee under the
Group Profit Share Scheme in December (£6.9 million; 2020: £6.2 million) to
reward their exceptional contribution to our performance. Dividends declared
in the period are 100p per share (2020: 80p).

 

Licensing income has increased to c.£19 million (2020: £8.7 million) driven
by significant computer game licensing deals with Nexon and other major
licensees. The related guarantee income is recognised on signing the contract
in line with our usual accounting policy.

 

Further details will be announced in the half yearly report which will be
released on 11 January 2022.

 

 

 

For further information, please contact:

 

 Games Workshop Group PLC                                                                      investorrelations@gwplc.com

 Kevin Rountree, CEO
 Rachel Tongue, CFO

 Investor relations website                                                http://investor.games-workshop.com
 General website                                                           www.games-workshop.com

 

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