Games Workshop sees full-year profits spike 69 per cent as staff receive £5k bonuses

A big spike in profit over the last year, confirmed plans to expand in China, and a bonus of £5,000 to each member of staff compound another successful end of year for the UK-based tabletop gaming brand, Games Workshop.

In its trading update issued this week, the tabletop figures retailer confirmed that each of its around 2,600 staff will receive £5000 in shares under its profit-share scheme following a profits spike at the company of 69 per cent to hit £151 million.

The share bonuses, issued to staff in May this year, are in total worth £12 million, marking a £10 million increase on the £2 million awards given to staff in the previous year. Meanwhile, senior executives will share an extra £1.1 million bonus pot, marking a £300,00 increase on the year before.

Games Workshop has been at the forefront of a surge in demand for tabletop gaming and RPG gaming over the last few years. While it was forced to close its 523 stores during lockdowns due to the pandemic, its online engagement, online events, and online sales helped buoy the company through the tough trading period.

As a result of consumer demand for escapism during the pandemic’s various lockdowns, and the retained audience that had turned to the hobby sector for entertainment, Games Workshop has seen its full-year pre-tax profit rise 69 per cent to nearly £151 million, while revenue came in at £353 million.

With another successful year under its belt, the retail brand has begun eyeing international expansion, detailing its plans to roll out hundreds of products across China, following delays at the border.

Chief executive, Kevin Rountree said that while China and Japan are ‘not significant contributors’ to the company’s performance yet, the firm ‘remains focused on sharing our passion for Warhammer to more people in these countries as well as the rest of Asia.’

Geek Retreat moves into Dumfries and stays on track to open 60 stores by end of 2021

The geek culture retailer, Geek Retreat, is continuing on its ambitious plans for the UK with the successful launch of its new store in Dumfries, bringing its total numbers of shops around the country to 28.

Situated on Church Crescent and providing five local jobs, the new Geek Retreat store – a geek culture retailers, gaming cafe, and events space rolled into one – aims to offer a safe and friendly environment ‘where people can gather and enjoy shared interests.’

The retailer aims to provide for all fanbases within the geek culture community, from Marvel and Magic the Gathering to Yu-Gi-Oh, Warhammer, and Pokemon, as well as traditional board games. Visitors will also be able to enjoy a full menu with vegetarian, vegan, and kids’ options all developed in partnership with the food service firm, Booker.

The Geek Retreat has previously outlined the importance it places on providing an inclusive, welcoming, and social environment for its more vulnerable customers such as those with autism or with mental health issues. The retailer has a national partnership with the National Autistic Society, while the Dumfries store locally supports The D&G Queerier, LIFT D&G, and Dumfries Gamers.

Samuel Glendinning, franchise owner at Geek Retreat Dumfries, said: “We are excited to have opened our doors and be bringing something new and different to the Dumfries Town center and to the local community. A safe and inclusive place to play, relax, have fun and make friends, where they can share their love of all things geeky from anime and manga to trading card games such as Pokemon and Magic:The Gathering.”

Emma Harper, MSP for South Scotland, added: “The opening of the unique Geek Retreat store and café in Dumfries is great news. The store proposes to offer a safe, friendly environment where people can come and enjoy their shared gaming interests as well as traditional board games.

“It is also extremely welcome that Geek Retreat provides an inclusive, welcoming, and social environment for more vulnerable customers, like those with autistic spectrum or with mental health or anxiety issues. Geek Retreat has a national partnership with the National Autistic Society, and locally supports The D&G Queerier, LIFT D&G and Dumfries Gamers.

“I have no doubt that Geek Retreat will be an invaluable asset to Dumfries and I encourage all with gaming interests to pop in and see what it has to offer. I am looking forward to going along for myself in August.”

Geek Retreat is now on track to open 60 of its planned 100 new stores on high streets by the end of 2021, creating 360 jobs around the UK.  The franchise is on track to meet its previously announced target of a total of 100 new stores in 2022.

Its growth is echoed by the increasing popularity of boardgames, card trading and tabletop games which make up an industry worth £8 billion in the UK and is predicted to grow by 3.1 per cent annually over the next three years.

Peter Dobson, chief executive of Geek Retreat, said: “The success of the Dumfries store is another step in the growth of the Geek Retreat franchise. The Geek Retreat proposition and unique culture has proved particularly resilient during the pandemic and has shown us how important it is for people to have a safe please to visit and to share their interests with friends as part of a community.”

All stores commit to a COVID-19 secure environment, with strict social distancing and hygiene measures in place, to give customers extra piece of mind that they can visit in confidence.

Games Workshop to give all staff £5000 share bonus amid another strong year of sales

A boost in the hobby and hobby gaming sector over the past year and throughout the pandemic has led to another set of record results for the UK’s miniatures and tabletop gaming specialist, Games Workshop, who is set to hand £12 million worth of share bonuses to staff following the success of its current financial year.

The share bonuses will be paid on an equal basis to each member of staff, handing each around £5,000. It’s a significant increase on the bonus received by staff members in the previous year, when the UK firm paid profit share bonuses amounting to £2 million.

Games Workshop has detailed particularly strong sales in its current financial year, one that it expects will end at no less than £350 million in the year to May 30th 2021. This marks a leap of some £80 million on the year prior, fueled in large by increase demand and engagement with the hobby scene over the course of the pandemic, as well as an evolving and growing licensing arm now spanning some of the biggest entertainment franchises globally.

The hobby specialist is also expecting its full year pre-tax profit to come in at not less than £150 million, up from £89 million in the prior 12-month period. This will includes royalties receivable from licensing which are estimated to be around £15 million.

The Retail Bulletin reports that, when announcing the company’s half year results back in January, Games Workshop chief executive Kevin Rountree said the business had put in a “cracking” performance with sales rising to £186.8 million in the six months 29 November compared to £148.4 million in the corresponding period in the previous year.

In addition to its Games Workshop  website, the company operates the Warhammer chain of stores across the UK.

Moonpig details plans to become ‘the Home of Gaming’ for birthdays as it bolsters its brand portfolio

The online greeting card and gifting platform, Moonpig has detailed its plans to become ‘the Home of Gaming’ for birthdays thanks to a new partnership with not only Nintendo but a wealth of gaming brands.

The new range is built on licensing partnerships with flagship brands such as Nintendo, Pokemon, Sonic the Hedgehog and SEGA, Warhammer, and Marvel Gameverse to name but a few. Moonpig has stated that it is still ‘actively recruiting gaming brands to fulfill their vision of being the ultimate gifting companion.’

“Gaming represents a huge opportunity for us at Moonpig and with incredible household brands – like Nintendo – on board, we’ve only just begun the journey to become the ultimate destination for birthday presents for every gaming fan,” said David Rimmer, commercial director at Moonpig.

“Our ambition is to have a brilliant range of cards that fans can’t find anywhere else and offer matching gifts for the perfect bundle.”

Victoria Connor, licensing executive at Moonpig, added: “We know how passionate people are about gaming and we’re looking forward to extending the licensed range  for cards as well as gifting with more gaming favourite brands.”

The first elements of the gaming range launched in September with a licensed partnership with Nintendo. The bespoke cards were designed by Moonpig’s in-house team, creating a diverse, personalisable range that is not available anywhere else, featuring Super Mario, Animal Crossing and Zelda among others.

Nelson Calvinho, head of marketing for Nintendo UK, said: “Nintendo prides itself on bringing people together through its games and putting smiles on people’s faces. We hope that this new range of cards from Moonpig, featuring many familiar characters from the world of Nintendo, will put a smile on the face of anyone receiving them.”

The next stage of the gaming campaign launched in April this year, featuring bespoke site looks as well as a number of competitions and giveaways on social media, giving participants the opportunity to win prizes, including a number of personalised Nintendo Switch Lite consoles and even a personalised Xbox Series S in partnership with gaming sensation Ali A.

Moonpig details plans to become ‘the Home of Gaming’ for birthdays as it bolsters its brand portfolio

The online greeting card and gifting platform, Moonpig has detailed its plans to become ‘the Home of Gaming’ for birthdays thanks to a new partnership with not only Nintendo but a wealth of gaming brands.

The new range is built on licensing partnerships with flagship brands such as Nintendo, Pokemon, Sonic the Hedgehog and SEGA, Warhammer, and Marvel Gameverse to name but a few. Moonpig has stated that it is still ‘actively recruiting gaming brands to fulfill their vision of being the ultimate gifting companion.’

“Gaming represents a huge opportunity for us at Moonpig and with incredible household brands – like Nintendo – on board, we’ve only just begun the journey to become the ultimate destination for birthday presents for every gaming fan,” said David Rimmer, commercial director at Moonpig.

“Our ambition is to have a brilliant range of cards that fans can’t find anywhere else and offer matching gifts for the perfect bundle.”

Victoria Connor, licensing executive at Moonpig, added: “We know how passionate people are about gaming and we’re looking forward to extending the licensed range  for cards as well as gifting with more gaming favourite brands.”

The first elements of the gaming range launched in September with a licensed partnership with Nintendo. The bespoke cards were designed by Moonpig’s in-house team, creating a diverse, personalisable range that is not available anywhere else, featuring Super Mario, Animal Crossing and Zelda among others.

Nelson Calvinho, head of marketing for Nintendo UK, said: “Nintendo prides itself on bringing people together through its games and putting smiles on people’s faces. We hope that this new range of cards from Moonpig, featuring many familiar characters from the world of Nintendo, will put a smile on the face of anyone receiving them.”

The next stage of the gaming campaign launched in April this year, featuring bespoke site looks as well as a number of competitions and giveaways on social media, giving participants the opportunity to win prizes, including a number of personalised Nintendo Switch Lite consoles and even a personalised Xbox Series S in partnership with gaming sensation Ali A.

Games Workshop builds out entertainment business with former Hasbro exec Finn Arnesen

Games Workshop Group is delving deeper into the entertainment business with the appointment of the former Turner Broadcasting and Hasbro Studios executive, Finn Arnesen as its first head of entertainment development.

In his new role, Arnesen will get to work mining the Warhammer library of novels and short stories in order to develop live-action and animated content for broadcast channels and platforms worldwide. Arenesen will be reporting into Games Workshop’s EVP of global licensing, Jon Gillard.

Moving over from Hasbro Studios where he was most recently SVP global distribution and development, Arnesen brings with him 25 years’ experience to a role that will see him inherit an initial content slate that includes an already announced live-action drama based on the Eisenhorn series of novels. The franchise is currently being developed with Frank Spotnitz, known for his work on The Man in the High Castle and The X Files.

Gillard said: “In its almost 40-year history, Warhammer has been a leader in the field of tabletop and video gaming, growing into one of the most fully realised examples of fantasy and sci-fi world-building ever devised. The characters we’ve explored and stories we’ve told during that time, through games, books, comics and more, are crying out to be brought to the screen.

“Getting Finn on board, with his wealth of expertise and knowledge across both programming and wider IP use, combined with his sheer energy and passion, will continue to cement Warhammer as one of the most unique and distinctive fantasy settings ever.”

Arnesen added: “This is a hugely exciting time to be joining Games Workshop, and I am relishing the opportunity to work with such an established yet, in terms of entertainment, relatively unexplored universe as Warhammer. There is a tremendous appetite at present for series set in unique, fantastical worlds, so, with Warhammer’s thousands of stories, numerous worlds and countless memorable characters, our options are virtually limitless.

“I was delighted to discover there are already early discussions in place with a variety of production companies around the world, from LA to Japan, and an array of highly sought after writing talent, to bring the vast Warhammer universe to all platforms.”

According to reports, the Warhammer Animation TEam is currently working with animation studios to help develop official animated content for the Warhammer Community, with three shows now nearing completion. It is expected that word on how this content will be delivered to fans will arrive later this year.

Andy Smillie, EVP digital and community at Games Workshop, said: “Over the decades, Warhammer has attracted the most dedicated and passionate fans of any gaming and publishing franchises. Every day they reach out, asking for more ways to enjoy Warhammer. This new project will offer Warhammer fans everywhere rich, unique content to meet their insatiable demand.

“Combined with the mainstream entertainment strategy, we will soon be successfully delivering more Warhammer, more often, in multiple ways for dedicated and casual fans alike.”

Games Workshop valued at £3.8bn as hobby demand fuels its latest sales surge

Games Workshop, the British firm behind the wildly popular Warhammer tabletop miniatures gaming franchise, has reported blockbuster sales and profits driven by the stay at home messaging of the last year and the surge in the hobbyist and gaming markets.

The company’s chief executive, Kevin Rountree has billed its 2020 results as “another cracking performance from a truly amazing global team”, as it rang in sales of £186.8 million and a profit of £91.6 million for the six months to November 29th, 2020.

The results outstripped the estimated figures, equating to around a 25 per cent surge in sales and a leap of 53 per cent in profits year on year. Games Workshop is now valued at £3.8 billion on the stock market – £1 billion more than Marks & Spencer.

The group managed to turn around the initial impact of the Coronavirus pandemic that saw Games Workshop stores closed during the UK’s first lockdown period last year. Most of the group’s 529 shops around the world have been closed, causing some initial concern over how it will reach its active customer base over the course of the year.

A surge in demand for the hobby market, and a particular rise in board gaming and the gaming sector, as well as the lean into online shopping saw Games Workshop’s online sales grow by 87 per cent. To meet customers in the digital space, the group also hosted a series of live-streamed online preview events to showcase new products and its own team of creatives.

Covid-19 has delayed production on some of Games Workshop new releases, such as titles like Death Guard Codex and pieces for the Age of Sigmar franchise, however the firm has promised fans that these will go on sale fortnightly from next week.

Chief executive Rountree has commended the global team for the success of the Games Workshop brand over what has been a challenging year for the retail sector overall, and has said that the company will continue to “focus on what is in our control” as it builds upon the success over the coming months.

“Like every other company we have our internal plans as to our future performance, which show a range of outcomes which are not shared with the stock market; predicting the future is always a risky business,” he said.

“We will focus on what is in our control; delivering on our operational plan rather than worrying about, for example, any short term share price or the weather.

“Our biggest risk is senior management becoming complacent, I will continue to do my best to ensure that does not happen.”

Looking to the months ahead, Rountree gave little away: “Like every other company we have our internal plans as to our future performance, which show a range of outcomes which are not shared with the stock market; predicting the future is always a risky business.”

“We will focus on what is in our control; delivering on our operational plan rather than worrying about, for example, any short term share price volatility or the weather.”

Perhaps referring to the garlands it receives in the retail and games industry for its stellar success around the world, he added: “Our biggest risk is senior management becoming complacent. I will continue to do my best to ensure that does not happen.”

Games Workshop partners with The Koyo Store for Warhammer 40,000 collectables

The entertainment merchandise specialist, The Koyo Store, has secured the global rights to create a range of officially licensed Warhammer 40,000 collectables through a new partnership with Games Workshop.

The deal marks a major success for The Koyo Store as the range will not only be sold through Games Workshop’s own High Street stores, but also available for fans to buy direct at www.thekoyostore.com/collections/warhammer-40000.

The initial Warhammer 40,000 product line-up, available in-store and online and encompassing a range of pin badge collections based on popular characters and artifacts in the game world, will include Mystery Faction Pins, Paint Your Own Space Marine pins, and a Space Marine Chapter Icon 12 pin collection.

The New Year will see the addition of a selection of Artifact 3D pins, A Diorama pin set, and a Legendary Character 12 pin set.

Games Workshop is the latest major IP owner to join The Koyo Store’s burgeoning collectables line-up, which also includes partnerships with Ubisoft, (Rainbow Six Siege), PUBG, Toei (Dragon Ball Z and Dragon Ball Super), Capcom (Street Fighter) and HBO (Game of Thrones)

“We are absolutely thrilled to be working with Games Workshop and the Warhammer 40,000 brand,” said Lee Townsend, founder and CEO of The Koyo Store. “We’re rapidly expanding our roster of first-class licensing partners, both within the video games industry and the wider entertainment markets. We are excited by what 2021 has in store. We already have three new licenses in the wings that are under NDA.”

The Koyo Store’s high-quality pin badges, coins and other unique merchandise have proved a hit among games, Esports and TV and film fans who are looking for great collectibles and the opportunity to claim bragging rights within their peer groups.

Based in Lancashire, the firm’s team has a strong and varied skillset, with designers, retail experts, gamers and pop culture fans working to produce epic merchandise and collectibles.

Games Workshop sees trading beat expectations as the hobby franchise finds growth in online sales

Games Workshop is continuing to play its role as the Great British success story, having reported that trading in the three months to August 30th was ahead of the board’s expectations thanks in part to a solid online performance.

The miniature wargaming company has said current estimates show sales of around £90m during the period, up from £78m in the same period a year prior. The manufacturer, retailer, brand and franchise owner said that sales had been driven by a healthy growth in its online and trade channels.

Games Workshop’s retail channel is still in recovery mode having been closed due to Covid-19 measures earlier this year. Eventing and gaming spaces like this have taken a knock during the lockdown measures, however there is hope that with tighter rules around group gatherings now in place, this can start to see a pick up.

Meanwhile, the Warhammer franchise saw a boost in celebrity endorsement when the British actor, Henry Cavill outed himself as a Games Workshop fan via YouTube.

Operating profit for the business before royalty income is now estimated at around £45m, up from £28m in 2019 and royalty income is expected to rise to £3m from £2m.

“The board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year,” said the firm in a statement. “A further update will be given as appropriate.”

Games Workshop declared a 50p per share dividend, in line with its policy to distribute truly surplus cash. This will be paid on 23 October for shareholders on the register at 18 September.

Games Workshop sees £269m revenue in ‘best financial year in its history’

Games Workshop is celebrating what it has hailed ‘the best financial year in the company’s history,’ having reported a revenue of £269.7 million for the 12 months to May 31st 2020. That’s an increase of over £10 million on the £256.6 million it totalled for the same period in 2019.

The miniatures manufacturer and name behind the globally popular Warhammer franchise also saw pre-tax profits grow from £81.3 million to £89.4 million over the financial year.

Commenting on the results, chief executive officer, Kevin Roundtree, said: “An amazing set of results – the best year in Games Workshop’s history, so far.

“You can once again see from these results that our business and the Warhammer hobby are in good shape. We look forward to the year ahead and will face any challenges head on and learn from our mistakes.”

Headquartered in Nottingham, Games Workshop’s business had been closed for more than a month at the height of the UK’s lockdown measures, including its high street retail outlets.

However, a ‘particularly strong’ appetite for the latest Warhammer launch and an around 40 per cent jump in user numbers on the Warhammer website to over 8 million appears to have helped the miniatures company maintain its momentum.

Games Workshop’s Roundtree added: “We thank our staff and customers and other stakeholders for their continued support during these uncertain times.”