Games Workshop profits upgraded
Whilst sales in the first half of the year to 29 November 2009 declined slightly in constant currency terms, trading in December was satisfactory. The Group's gross margin has continued to improve, and costs remain under firm control. In addition, the outlook for royalties receivable in the current year remains good, although not as significant as in the year to 31 May 2009.
As a result, the Board of Games Workshop currently believes that pre-tax profits in respect of the year ending 30 May 2010 are likely to be some £5 million in excess of current market consensus estimates.
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