Tuesday 12 January 2021 10:03 am

Games Workshop repays business rates support as profits surge in pandemic

Games Workshop, the owner of Warhammer, this morning announced it would repay business rates support as it reported a surge in profit in the second half after consumer demand soared during the pandemic.

The London-listed firm said profit before tax was £91.6m in the six months to 29 November, compared to £58.6m in 2019, and revenue climbed from £148.4m the previous year to £186.8m in 2020. 

Read more: Games Workshop shares level up on expectations beat

Games Workshop announced a dividend per share of 80p, compared to a payout of 100p per share in 2019. 

The company, which has been forced to close or restrict the majority of its 529 physical stores at various times throughout the period, said it is in the process of cancelling its business rates discount for 2020/21. 

It has already returned furlough support to the taxman, and said it had not claimed any government financial support during the half-year period.

Games Workshop chief executive Kevin Rountree said: “Another cracking performance from a truly amazing, global team; a solid six months building on the great progress and profitable growth we have been consistently delivering over the last five years.

Read more: Games Workshop coronavirus recovery going ‘better than expected’

“Finally, I’d like to thank our enthusiastic and loyal fan base who share our love for the Warhammer Hobby and the fantastical settings, characters and narratives that make up our IP. 

“Their ongoing support and feedback have been invaluable, keeping us honest when we have fallen short and driving us onward to continue to deliver more and better.”

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