Trading update on close of financial year

Following the close of its 2018/19 financial year Games Workshop provides the following trading highlights:

Games Workshop is pleased to announce that the sales and profit growth, which was discussed in the trading update released on 12 April 2019, has continued in the period to the end of the financial year. Sales growth has been across all sales channels.

We expect the Group’s sales for the year to 2 June 2019 to be approximately £254 million and the Group’s profit before tax to be not less than £80 million. Royalties receivable from licensing are approximately £11 million. As in the prior year, in recognition of our staff’s contribution to these results, we paid during the year profit share bonuses amounting in total to £5 million. These were paid on an equal basis to each member of staff.

In accordance with our ongoing dividend policy of distributing truly surplus cash to shareholders when it becomes available, a dividend of 35 pence per share was paid to shareholders on 31 May 2019, bringing the total paid in the financial year up to £1.55 per share (2018: £1.26 per share).

We will provide detailed information on the audited results for the 2018/19 financial year at the time of our full year results announcement on 30 July 2019.

Total voting rights

As at the date of this announcement the Company had 32,501,949 issued ordinary shares of 5 pence each admitted to trading.  Each ordinary share carries the right to one vote in relation to all circumstances at general meetings of the Company.  The Company does not hold any ordinary shares in Treasury.

The above figure may be used by shareholders and others with notification obligations as their denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.


Trading statement and dividend

Following on from the Group’s half year report in January, trading to 7 April 2019 has continued well. Compared to the same period in the prior year, sales and profits are ahead. Royalties receivable are also ahead of the prior year following the signing of new licence agreements. The Board’s current expectation is that profit before tax for the year ending 2 June 2019 will be c. £80 million.

The Group also announces that the Board has today declared a dividend of 35 pence per share, in line with the Company’s policy of distributing truly surplus cash. This will be paid on 31 May 2019 for shareholders on the register at 26 April 2019, with an ex- dividend date of 25 April 2019. The last date for elections for the dividend re-investment plan is 10 May 2019. This dividend will take the total dividend declared and paid during the year ending 2 June 2019 to £1.55 per share.