CITY & CORPORATE
Games Workshop profit rockets
19 January 2010 | by The Retail Bulletin
Pre-tax profit surged to £7.9m for the six months to 29 November 2009 from £3.0m the same period a year earlier.
Revenue rose to £62.5m from £61.2m. At constant currency revenue fell to £58.5m from £61.2m in 2008. Gross margin grew to 74.4 per cent from 71.4 per cent in 2008.
Commenting on the interim results, chief executive Mark Wells said: "With improved operating margins we continue to open Hobby centres, confident that we can grow Games Workshop profitably in all existing territories."
"Games Workshop's core fundamentals remain strong. Our gross margins are improving, our costs are under control, our return on capital is increasing and our cash flow is good. The board remains confident in the future growth and profitability."
