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Games Workshop delivers strong half-year results

Fantasy miniatures retailer Games Workshop has reported a sales increase of 14% to £125.2m in its half-year results, covering the six month period to 2 December 2018.

On a constant currency basis sales were up by 13% from £109.6m to £124m, compromised of retail £42.3m (2017: £39.6m), trade £60.7m (2017: £48m) and online £21.2m (2017: £22m).

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Total operating profit also increased by £2.7m to £40.8m during the period, and the group said the net impact in the six months to 2 December 2018 of exchange rate fluctuations was a gain of £200,000.

The retailer has also voiced its concerns on the impacts of Brexit, and how the key risks relate to the movement of goods from the UK to the EU across all sales channels – as well as the recruitment and retention of EU nationals working in the UK.

According to the group these risks are being assessed and, subject to the UK parliament formalising the transition process, plans are being reviewed to help mitigate the possible impact of these changes.

CEO Kevin Rountree said: “Our business and the Warhammer Hobby continue to be in great shape. We have remained true to our long term strategy, and once again delivered on our promise to produce and sell the best fantasy miniatures in the world, while engaging and inspiring our fans.

“December trading continued in line with the sales performance in the first half. We are also announcing that the board has today declared a dividend of 25 pence per share, in line with the company’s policy of distributing truly surplus cash.”

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