The fantasy figurine retailer Games Workshop is handing its shop workers, model makers, designers and support staff a £2,500 Christmas bonus, £1,000 more than a year ago, after half-year profits rose more than 12%.
The Nottingham-based company behind the popular table-top gaming series Warhammer and Lord of the Rings figures said its workers would split a £7.5m bonus pool, up from £4.5m a year ago.
Games Workshop, which runs about 530 stores, said it was increasing the bonus as it expected half-year profits to be at least £94m as sales rose 9% to £247m. There was strong growth in its core gaming sales but a drop in licensing income.
Started nearly 50 years ago by three schoolfriends, Games Workshop enjoyed a boom during the pandemic and has continued to thrive despite tough times on the high street as hobbies and small treats that can be enjoyed at home have benefited from the cost of living squeeze.
Analysts said the company had recorded a slowdown in the second quarter of its financial year but had enjoyed the benefits of a strong first quarter helped by the launch of the 10th edition of its Warhammer 40,000 game, which features characters such as Space Marines and the squid-like Neurotyrant.
Shares in the group fell almost 11% to just under £95 as Andrew Wade, an analyst at Jefferies, said investors were likely to be disappointed that the business had only delivered sales and profits in line with expectations.
In the summer, analysts upgraded forecasts after strong early sales of the latest 40,000 edition while the cost of shipping goods and some materials fell. Wade said it appeared there had been “a pull-forward of demand” in the summer and Games Workshop now faced tougher trading conditions.
