Nottingham-based miniatures manufacturer Games Workshop reports impressive revenue growth for Q3 2023.
Games Workshop, the renowned creator of the Warhammer franchise, has revealed substantial returns for its shareholders following a robust summer performance. The company’s third-quarter financial results exceeded expectations, driving a surge in its stock value.
Key Highlights
- Impressive Q3 Performance: Games Workshop’s trading for the three months ending on August 27, 2023, surpassed initial forecasts, leading to a significant financial upswing.
- Core Revenue Soars: The company reported core revenues of £121 million for the quarter, a notable increase from the £106 million recorded during the same period in the previous year.
- Generous Shareholder Dividend: In light of the successful quarter, Games Workshop declared a dividend of 50p per share. This announcement brings the total dividends declared in the current fiscal year to £1.95 per share, marking a substantial rise from the £0.75 per share recorded in 2022.
- Share Price Skyrockets: Following this announcement, Games Workshop’s shares experienced an 11.26% surge in early afternoon trading on Friday, reaching 11,560p.
- Strong Profit Growth: The company anticipates a full-year profit before tax of £57 million, a notable increase from the previous year’s £39 million. This growth is attributed to robust performance across all business channels.
- Licensing Revenue Doubles: Games Workshop also reported a doubling of its licensing revenue, with a total of £6 million generated year-on-year.
Previous Dividend Issue Addressed
In a prior incident, Games Workshop acknowledged a mistake in its dividend payments. The company had inadvertently paid investors a 45p per share dividend in November before filing its half-year accounts with Companies House. This error was categorized as an ‘unlawful dividend,’ stemming from a minor technical breach.
The news of Games Workshop’s thriving financial performance and the substantial dividends declared for shareholders underscores the company’s resilience and the continued popularity of its products within the gaming community.
