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Sales fall at Games Workshop

Revenue down but gross margins improve.

CITY & CORPORATE

Sales fall at Games Workshop

Revenue down but gross margins improve.

Half-yearly results for the six months to 28th November 2010 show that revenue was £60.0m (2009: £62.5m).

Gross margins rose to 76.7% (2009: 74.4%) but operating profit slipped to £6.7m (2009: £8.1m).

Mark Wells, CEO of Games Workshop, said,"Sales fell by 4% although this was largely offset by gross margin improvements.  Efficiency initiatives were implemented in both sales and manufacturing operations.  Pre-tax profit was down £1.2 million to £6.7 million.  The focus remains on investing in Hobby centre openings and improving retail volume.  Cash generation remains strong."

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