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Please note that tax, investment, pension and ISA rules can change and the information and any views contained in this article may now be inaccurate.
Our positive call on fantasy miniatures firm Games Workshop (GAW) is off to a cracking start, with first half results (14 Jan) taking the shares to fresh highs.
For the six months to 1 December 2019, pre-tax profit rose 44% to £58.6m year-on-year as sales advanced 19% to £148.4m.
On a constant currency basis, sales were up by 16% to £145.6m. Trade, or sales through independent stockists, generated £76.1m, up
from £61.4m; retail £45.3m, up from £42.6m; and online £24.2m, up from £21.2m.
Pre-Christmas trading was also flagged as being in line with expectations and, in a show of confidence, the dividend was hiked from 65p to 100p.
One of the reasons we are excited about Games Workshop is the licensing opportunity associated with its intellectual property. Encouragingly royalties increased by £5.2m to £10.7m during the period, although we are mindful that this income stream can be unpredictable.
The company continues to develop a TV series based on the Eisenhorn novels which are set in its Warhammer universe. We are pleased to see the company approaching this carefully.
SHARES SAYS: We still see significant potential, so keep buying.
These articles are provided by Shares magazine which is published by AJ Bell Media, a part of AJ Bell. Shares is not written by AJ Bell.
Shares is provided for your general information and use and is not a personal recommendation to invest. It is not intended to be relied upon by you in making or not making any investment decisions. The investments referred to in these articles will not be suitable for all investors. If in doubt please seek appropriate independent financial advice.
Investors acting on the information in these articles do so at their own risk and AJ Bell Media and its staff do not accept liability for losses suffered by investors as a result of their investment decisions.
The value of your investments can go down as well as up and you may get back less than you originally invested. We don't offer advice, so it's important you understand the risks, if you're unsure please consult a suitably qualified financial adviser. Tax treatment depends on your individual circumstances and rules may change. Past performance is not a guide to future performance and some investments need to be held for the long term.