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Games Workshop rallies as it declares dividend and reports strong first quarter trading

Games Workshop said profits in the year to date are well above the same period a year earlier
Games Workshop
Games Workshop now has a higher market capitalisation than Debenhams

Games Workshop Group PLC (LON:GAW) shares jumped as it declared a dividend of 35p on the back of strong trading in the first quarter.

In a brief trading update, the company said profits for the 2017/18 fiscal year to date are well above the same period a year ago, boosted by sales and the high operational gearing of the business.

The group, which makes models for miniature war games such as The Hobbit, said the dividend will be paid on 27 October for shareholders on the register on 22 September.

In July, Games Workshop said its pre-tax profit surged 126% to £38.4mln and revenue soared 34% to £158mln in the year to 28 May 2017. At the time it added that it expects sales and profits in the current fiiscal year will be well above the same period the prior year and that profits will exceed market forecasts.

Independent retail analyst Nick Bubb commented: "The recent autumnal weather has been ideal for an ‘indoor’ retailer like the toys chain Games Workshop, which, amazingly, now has a higher market cap than once mighty Debenhams (£530mln plays £480mln)."

Shares rose 9.69% to 1,800p in morning trading.

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Games Workshop Timeline

January 16 2014

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