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Nottingham Post
Nottingham Post
National
Matthew Bunn

Games Workshop issues update on its recovery from lockdown

Bosses at Warhammer creator Games Workshop have issued an update on their financial recovery amid the coronavirus pandemic.

The Lenton-based tabletop gaming giant closed stores as lockdowns were enforced across the world, but 306 of 532 branches have now re-opened.

The firm's warehouses and factory is also operating, although at a reduced capacity to comply with social distancing.

In a financial update to the London Stock Exchange today, June 12, officials confirmed the business had taken a hit, but they still expect to make a profit this year.

A statement signed off by the company stated: "Trading for the Group in the nine months to the end of February was in line with expectations.

"Since the outbreak of Covid-19 and the subsequent closure of our operations globally, our performance has been impacted. However, our recovery since re-opening has been better than expected.

"As we have re-opened our sales channels as discussed above, we now estimate our sales to be c. £270 million and profit before tax for the year ended May 31, 2020 to be no less than £85 million.

"This includes royalties receivable from licensing which are estimated to be approximately £16 million."

The statement added: "In relation to the future performance of the Group, the board feels that it is too early to know what the continuing impact of Covid-19 is likely to be."

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