Games Workshop Group PLC (LSE:GAW) first results update since it became an FTSE 100 member received a ringing endorsement from the analysts at Peel Hunt.
Interim profits at the Warhammer model figures group were 33% ahead at £126.8 million and beat expectations by almost £7 million, prompting Peel to upgrade its full-year estimate by 6%.
December was equally strong with core sales up 12% in actual currency, while the dividend was chunky 155p taking the year-to-date total to 420p vs 315p last year.
Peel Hunt noted that all key geographic regions are in growth while there is strong momentum in the business in both Core and royalties, with the recent Amazon announcement adding to the mix.
“The shares have performed well, but we continue to see clear momentum and upside potential to our numbers.
“The shares are trading on a PE of 26 times to May 2025.”
Buy with a target price of 13,500p is the broker’s view. Shares eased 2.7% to 12,880p.