Games Workshop celebrates profit rise
Fantasy board game retailer Games Workshop has celebrated a rise in full-year profit and revenue as new products and improved customer service standards helped drive sales.
In the 53 weeks to 3 June 2012, pre-tax profit increased to £19.5 million from £15.3 million in the previous year. Revenue for the period rose to £131 million from £123.1 million.
The company saw strong like-for-like growth in the UK and North America, its two largest businesses, and its Hobby centres in Northern Europe, Germany, Italy and Japan also performed well. It continued to open its one man Hobby centre outlets in new cities, particularly in Europe and North America, replacing unprofitable shopping centre stores.
Sales to independent stockists increased, particularly in the UK and North America where the company increased the number of independent accounts stocking its best selling ranges. Online sales also delivered strong growth and now represent 10% of sales.
Games Workshop CEO Mark Wells said: “Games Workshop has had a good year. We have launched some great new products including the new Citadel paint range. We have made good progress on all our major initiatives. This has resulted in an encouraging level of volume growth.”
“We have a strong management team and excellent staff who are committed to delivering a healthy return on capital.”
