Games Workshop shares march higher after the Warhammer creator hands out £5m in staff bonuses (again) and sales surpass £250m
- Games Workshop shares jumped 5% on Friday after the firm updated the market
- It said it has handed out more than £5million in staff bonuses this year
- The firm said it expects its full-year sales to reach £254million – a 15% jump
Shares in Games Workshop marched 5 per cent higher today after the miniature fantasy figures firm lifted the lid on another stellar full-year performance.
In a characteristically brief pre-close trading update, it said that sales for the past 12 months would likely reach £254million – a 17 per cent jump on last year – while profits will exceed £80million.
The Nottingham-based company, which has seemingly swerved tough conditions on UK high streets, also paid out more than £5million in bonuses to staff for the second year running.
Rapid growth: Games Workshop said its sales for the past 12 months would likely reach £254million – a 17% uplift on last year
That’s more than £2,500 for each of its 1,900 employees, ‘in recognition of our staff’s contribution to these results’, it said today.
It paid the bonus last year after its profits doubled.
Games Workshop’s ever popular shares reached a 52-week high of £47.74 on Friday.
It has undertaken a series of self-help projects, including a new factory in Nottingham and increased warehouse capacity, to boost its sales and make the business more efficient.
‘Perhaps one of the underappreciated points about the company’s success is the way it engages with customers,’ says AJ Bell
Fans have also continued to flock to its shops, thanks to the strong in-store experience element and high demand for its Warhammer and Lord of the Rings figurines.
‘This truly is a business which has hit the right formula to drive up earnings,’ said AJ Bell investment director Russ Mould.
‘The huge popularity of fantasy series Game of Thrones may have helped raise interest in its products but its fortunes are by no means tied to this TV blockbuster remaining in fashion.’
Mould added: ‘While a lot is said about its skills in making miniature models and creating imaginary worlds, perhaps one of the underappreciated points about the company’s success is the way it engages with customers.
‘Visit one of its stores and you’ll find enthusiastic staff who aim to interact with everyone who steps through this door.’