Games Workshop pre-tax profits rise
Games Workshop has reported encouraging first half results with a pre-tax profit of £9.5 million compared to the £6.81 million achieved in the same period last year. Operating profits rose to £9.1 million from £6.8 million.
Revenues for the six months to 27 November increased to £62.7 million from £60.0 million last year. The company also maintained gross margin which increased to 76.8% from 76.7% in 2010.
In a statement the company said it had delivered growth across all channels. The UK, North America, Asia, emerging markets and capital cities and its two specialist businesses, Forge World and Black Library all delivered constant currency growth. However continental Europe was down slightly in constant currency with strong performances from Italy and the Netherlands unable to offset declines elsewhere.
Chief executive Mark Wells said: "An encouraging first half performance in which we have delivered growth in sales, profit and return on capital from our core business. Good progress has been made on our strategic initiatives."
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