UK's Games Workshop core revenue up 11%, operating profit up 16%
UK's Games Workshop core revenue up 11%, operating profit up 16%
Overview
UK fantasy miniatures maker's FY core revenue rose 11% yr/yr
Core operating profit rose 15.7% for the period
Licensing revenue declined as expected after a strong prior year
Outlook
Company aims to expand geographically and grow core sales every month
Games Workshop plans further investment in manufacturing and logistics capacity
Company highlights IT system replacement and supply chain disruptions as risks to operational plans
Result Drivers
CORE BUSINESS GROWTH - Co said record group revenue and profit before tax were driven by strong performance in its core miniatures business across all sales channels and geographies
LICENSING REVENUE DECLINE - Co said licensing revenue fell as expected due to a one-off positive product release in the prior year
OPERATIONAL EXECUTION - Co cited improved stock forecasting and record manufacturing and warehouse volumes as supporting sales growth
Company press release: ID:nRSb0617Oa
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
FY Core Revenue |
| GBP 626.80 mln |
|
FY EPS |
| GBP 6.24 |
|
FY Core Operating Profit |
| GBP 245.10 mln |
|
FY Pretax Profit |
| GBP 275.70 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the toys & children's products peer group is "buy"
Wall Street's median 12-month price target for Games Workshop Group PLC is GBp21,850.00, about 8.1% above its July 27 closing price of GBp20,220.00
The stock recently traded at 33 times the next 12-month earnings vs. a P/E of 29 three months ago
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)