Games Workshop Group PLC (LON:GAW) saw its shares slide despite reporting a record-breaking year, with pre-tax profits almost doubling.
The FTSE 250 war game maker and owner of the Warhammer franchise reported a pre-tax profit for the year of £74.5mln, up from £38.4mln the year before while revenues jumped to £219.8mln from £158.1mln.
READ: Games Workshop share price war-hammered after "in line" trading update
The firm also paid out an increased total dividend over the course of the year coming in at 126p compared to 74p the year before.
However, shareholders seemed to think that the company would be facing a difficult comparative in its coming year following such high numbers, with shares falling 8.4% to 2,885p in late morning trading Tuesday.
This didn’t sway analysts at City broker Peel Hunt, who upped their target price for the group to 2,700p from 2,450p after pricing in a 5%-10% drop in first-quarter sales for the new year based off the high comparative.
They added that there “is plenty to look forward to” for the firm, citing a sharp increase in customer engagement with 100,000 views per day of video content, new product development and the exploration of animation and live action strategies.
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