FTSE 250 firm Games Workshop’s shares soared after the open this morning, following a positive trading update.
The Warhammer-maker’s stock rose by almost 14 per cent in early trades, after a rosy outlook in a brief statement to markets this morning.
The company said it was “pleased to announce” that since late September when it last published an update, it was “ahead of expectations.”
Games Workshop said “the Board’s estimate of the results for the six months to 1 December 2024, at actual rates, is core revenue of not less than £260m, compared to £235.6m, in 2022/23.
It added that it also expected “licensing revenue of not less than £30m”, compared to the 2023/24 figure of £13m, while its profit before tax “is estimated to be not less than £120 million, compared to £96.1m.
This comes after Games Workshop suffered a major shareholder revolt after handing millions in bonuses to its top bosses.
Back in September, when it published its last trading update, the Nottingham-headquartered company saw almost 21 per cent vote against its remuneration report and nearly 27 per cent vote against its remuneration policy at its AGM.
In July, its leaders heralded “exciting times” with its best ever results.
The firm’s shares have grown by 37.11 per cent in the last six months, and 23 per cent in the year to date.