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Games Workshop surges as summer trading beats expectations

The Warhammer maker said sales for the three months to August 30 are estimated at around £90mln, up from £78mln in the prior year, while operating profit before royalty income is estimated to be at £45mln compared to £28mln in 2019

Games Workshop Group PLC - Games Workshop surges as summer trading beats expectations

Games Workshop Group PLC (LON:GAW) surged higher on Thursday as the maker of Warhammer said trading over the summer period of 2020 has come in ahead of its expectations.

In an update for the three months to August 30, the FTSE 250 firm said current estimates showed sales for the period of around £90mln compared to £78mln in the prior year, while operating profit before royalty income is estimated to be at £45mln compared to £28mln in 2019.

READ: Games Workshop stomps higher as it reports best year in its history

The company said the improved performance was driven by “healthy growth” in its online and trade channels, while its retail channel is still recovering from the coronavirus closure earlier in the year. The group added that the longer term impact of the pandemic is still unknown.

Games Workshop also declared a dividend of 50p per share, in line with its policy to distribute surplus cash.

The update sent the shares up 14.3% to 9,970p in early deals.

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