Games Workshop shares jump amid soaring sales

Games Workshop saw shares jump almost 20% in early trading yesterday, after posting strong preliminary trading results for the three months ended 30 August 2020.

Its current estimates show sales of c.£90m, compared with £78m for during the same period last year. Operating profit for the before royalty income also is estimated to be c. £45m, up from £28m in 2019.

Games Workshop said the sales boost has been driven by “healthy growth” in its online and trade channels. However, its retail channel is still recovering from the Covid-19 closures earlier in 2020, and the longer term impact on the Group as a result of the ongoing pandemic is still unknown.

A statement by Games Workshop read: “The board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year. A further update will be given as appropriate.

“The board has also today declared a dividend of 50 pence per share. This is in line with the Company’s policy to distribute truly surplus cash.”