Games Workshop shares slide despite good profits

Shares in fantasy miniatures firm Games Workshop (LSE: GAW) slid 2% on Tuesday, despite an upbeat half-year trading update from the Nottingham-based company. Games Workshop reported a 14% rise in pre-tax profits to £95.2 million for the six months to November 26th.

Chief Executive Kevin Rountree said Games Workshop continues to perform well financially against a tough economic backdrop. The company delivered revenue growth of 9.3% to £247.7 million, helped by its popular Warhammer games and miniatures.

“Games Workshop and the Warhammer hobby are in great shape,” Rountree stated. “We continue to perform well during challenging economic times.”

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Dividend payments were boosted 18% to 195p per share following the improved first half performance. Trading in December has also been in line with expectations, while staff morale remains high, the CEO added.

Earlier last month, Games Workshop announced a content deal with Amazon to develop films and series based on its Warhammer 40,000 universe. Further details were not provided in this latest update.