Royalties create model profits for Games Workshop
Royalty payouts have helped boost pre-tax profits by more than £2.5m at Nottingham-based Games Workshop, the company said this morning.
The retailer, which produces action figurines for games such as Lord of the Rings and Warhammer, grew pre-tax profits to £9.5m for the six months ending 27 November 2011. This was up from £6.8m in 2010.
Revenue also increased to £62.7m from £60m a year earlier. Income from royalties stood at £2.6m, a boost from the £1m secured in the previous year.
Mark Wells, chief executive of Games Workshop, said the half-year results were "encouraging".
"Good progress has been made on our strategic initiatives; these are beginning to show through in results from our Hobby centres," he said.
"We also received a significant royalty payment which has been recognised in the first half. In line with our policy of distributing truly surplus cash, we are pleased to report that the board is declaring a dividend of 29p per share."
