Today we have the half yearly report for investors, but better yet from a hobbiest perspective, it gives us insight into the company that provides us with our pasttime.
Just recently we were talking about costs vs a better game . You can link up to it here. Link.
HALF-YEARLY REPORT
Games Workshop Group PLC ("Games Workshop" or the "Group") announces its half-yearly results for the six months to 28 November 2010.
Highlights:
· Revenue at £60.0m (2009: £62.5m)
· Revenue at constant currency* at £59.5m (2009: £62.5m)
· Gross margin at 76.7% (2009: 74.4%)
· Operating profit pre-royalties receivable at £5.8m (2009: £6.9m)
· Operating profit at £6.7m (2009: £8.1m)
· Pre-tax profit at £6.7m (2009: £7.9m)
· Earnings per share of 15.3p (2009: 21.5p)
· Net funds of £11.5m (2009: £4.3m)
Mark Wells, CEO of Games Workshop, said:
"Sales fell by 4% although this was largely offset by gross margin improvements. Efficiency initiatives were implemented in both sales and manufacturing operations. Pre-tax profit was down £1.2 million to £6.7 million. The focus remains on investing in Hobby centre openings and improving retail volume. Cash generation remains strong."
While this is good information, details can be found here.
http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail.html?announcementId=10770556
Also remember that according to previous information, GW paid down a ton of it's debt in 2010, has severly increased it's cash flow by cutting overheads and increasing production efficiencies. Sales were down by 5% in the second quarter, and increased .7% in the third quarter.