8th Nov 2019 08:43
(Alliance News) - Shares rose in Games Workshop PLC on Friday as it guided for a solid increase in profit and revenue for the first half of its financial year.
Shares in the FTSE 250-listed wargames manufacturer and retailer were 15% higher at 5,195.56 pence on Friday in London.
Games Workshop - which is headquartered in Nottingham - said its trading to November 3 has remained robust since its last update on September 18, with sales and profit ahead of the same period the year before.
Royalties receivable are also significantly ahead of the prior year, driven by the timing of guarantee income on the signing of new licences.
As a result, for the six months ending December 2, Games Workshop expects pretax profit to be no less than GBP55 million, and sales to be at least GBP140 million.
At the very least, this reflects a 34% rise from GBP40.8 million pretax profit, and 11% from GBP125.2 million in revenue the year before.
By Dayo Laniyan; [email protected]
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