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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