Games Workshop Shares Jump as Fiscal 2019 Dividend Raised on Higher Sales Forecast
Shares of Games Workshop Group (GAW.L), a British manufacturer of toy soldiers, traded sharply higher early on Friday after the company said that trading since the end of its half-year in January had “continued well.”
Sales and profit are “ahead” on a year-on-year basis over a period spanning the end of January to April, the Nottingham-based retailer, which manufactures the popular fantasy Warhammer gaming series, said in a trading update.
“Royalties receivable are also ahead of the prior year following the signing of new license agreements,” the statement noted. “The board’s current expectation is that profit before tax for the year ending June 2 will be about 80 million pounds ($104.6 million).”
That compares with a profit before tax of 74.5 million pounds during the 53 weeks that ended June 3, 2018.
In line with the company’s policy of distributing “truly surplus cash,” the group said its board set out a dividend of 35 pence per share, bringing the total payout during the current financial year to 155 pence per share, which is higher than the 126 pence per share paid out in fiscal 2018.
Shares of Games Workshop surged by more than 10% higher at the time of writing in London.
Price: 3,690.00 Price Change: +380.00 Percent Change: +11.48