8th Jun 2015 06:40
LONDON (Alliance News) - Games Workshop Group PLC Monday said it expects its profit for the year to May 31 to be broadly in line with market expectations and that sales are likely to decline in both its retail and trade arms, as they continue to be hit by volatile exchange rates.
The maker of miniature figures and gaming sets said that, over the year, it experienced modest sales growth in both its core trade and mail-order channels at constant currencies.
It added that sales declined slightly in its own stores due to continued difficult trading in Continental Europe following restructuring last year, and that some non-core activities which are grouped with core activities also declined.
The results of this and continuing unfavourable exchange rates will likely lead to a 5% drop in retail sales and 3% drop in trade sales, it said, while mail order will grow at around 5%.
In January, Games Workshop reported a drop in profit for the first half of its financial year to GBP6.3 million from GBP7.7 million, as revenue fell to GBP56.5 million from GBP60.5 million.
Games Workshop will release its full-year results on July 28.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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