Games Workshop Group PLC (LON:GAW) shares gained after saying its revenues and earnings rose sharply in the first half.
The company, which makes board game pieces and develops computer games, said its initial estimates indicate sales of £109mln and operating profit of £38mln for the first six months of the year. In the same period a year earlier, revenue stood at £70.9mln while operating profit was £62.7mln.
READ: Games Workshop rallies as it declares dividend and reports strong first quarter trading
“Over the first half we have seen sales and profit growth in all channels in constant currency terms with the momentum continuing throughout period,” the group said in Friday’s trading update.
“These results are in line with expectations for the year ending 3 June 2018 although the Board is aware that it is still early in the 2017/18 financial year.”
Shares rose 7.11% to 2,097p in morning trade.
The company's shares have performed strongly this year, having risen more than 180% in the year to date following a successful turnaround of the business.
In September, the group declared a dividend of 35p on the back of a strong 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.
In the year to 28 May 2017, the company saw pre-tax profit surge 126% to £38.4mln and revenue soar 34% to £158mln. At the time it said it expects sales and profits in the current fiscal year will be well above the same period the prior year and that profits will exceed market forecasts.