Company behind Warhammer brand sees 15.4% increase in sales in the three months to August 30.
Fantasy miniature specialist Games Workshop has enjoyed a strong summer, revealing a 15.4% increase in sales to £90 million for the three months to August 30.
This is compared to a figure of £78 million over the same period last year.
Games Workshop – which is the name of the public company behind the successful Warhammer brand (which enjoyed its biggest ever year for licensed products in 2019) – certainly seems to be one of the retail winners of 2020.
Previously, it declared revenues of £269.7 million and operating profits of £90 million for the 12 months to May 31. This was against £256.2 million and £81.2 million the previous year respectively, and marked the fourth consecutive year of record sales and profits.
“While other retailers have used online to mitigate the damage of store closures, Games Workshop is one of the few that has been able to grow despite COVID-19 related restrictions,” commented Alex Hardy, retail analyst at data and analytics company, GlobalData. “It has capitalised on the need in lockdown to indulge in hobbies, and fantasy gaming has proved an ideal form of much needed escapism for many, with a strong online community helping to drive sales.”
Alex continued: “Games Workshop’s cost-conscious strategy, which includes not spending money on prime offices or shopping locations, or mass market advertising, has been critical to its profitability over the period.
“This, combined with a rise in demand for its products, has led to estimates of £45m for operating profit before royalty income, a 60.7% increase on last year.”