Games Workshop shares soar on trading update

Inveting.com -- Shares of Games Workshop Group (LON:GAW ) surged more than 16% on Friday, driven by an upbeat trading update for the six months ending December 1. 

Games Workshop said in a statement that trading since its previous update on September 18, has exceeded expectations. 

The group now anticipates core revenue of no less than £260 million, an increase from the £235.6 million reported for the same period in 2023/24. 

Additionally, its licensing revenue is expected to more than double, reaching at least £30 million compared to £13.0 million in the prior year.

This revenue boost has also translated into higher profitability. The group estimates its profit before tax to be no less than £120 million, marking a 25% growth from £96.1 million recorded in the previous year.

Source: Investing.com