Games Workshop staff to get share of £5 million bonus as profits forecast to almost double
Games Workshop staff will share a £5m bonus after it announced it expects profits to almost double this year. About 1,700 employees at the fantasy games retailer will split the pay out “in recognition of their contribution”.
The Nottingham-based group said on Friday it expects to report an annual pre-tax profit of at least £74m, which is up from last year’s £38.4m.
The results have also been helped by online sales and the continued popularity of tabletop game Warhammer. Revenue is also expected to jump from £158.1 million to £219 million, with the firm boosted by £10m in licensing royalties.
Over the past 12 months, Games Workshop shares have risen by nearly 150% as the firm continues to bounce back from a difficult period when sales faltered.
The firm makes 75% of its revenues overseas, and has benefited from the weak pound. Games Workshop moved its headquarters from London to the Lenton area of Nottingham in 1997. It boasts a dedicated gaming room and Warhammer-themed pub.
The rise of Games Workshop
Some 40 years ago, friends Ian Livingstone and Steve Jackson set up a board game shop called Games Workshop from their west London flat.
The pair made contact with the inventor of Dungeons and Dragons, Gary Gygax, and secured an exclusive three-year distribution agreement in Europe.
Pouring all of their money into Games Workshop, Mr Livingstone and Mr Jackson created dozens of fantasy board games and books which they sold all over the world.
Games Workshop has since grown to become a multimillion-pound business.