Games Workshop Share Discussion Threads

[oggyrocks] 30/7/2016 14:29

When do these go ex div ? Is it early August ? Is the dividend due 20p ?

Thanks

[nehpets81] 27/7/2016 13:58

Agreed - this is looking quite interesting now, especially as trading seems to have stabilised since the warning earlier in the year.

The chairman's pre-amble in the annual report really is worth reading by the way - I haven't smiled so much reading through an annual report since talk of an asteroid made of platinum that flew past the earth in SLP's annual report a couple of years ago!

[mozy123] 27/7/2016 10:41

Games Workshop Group plc and PZ Cussons plc - have shares in both - wouldnt touch Lloyds with a b.p!

From a quick skim of the annual report, focus seems to be on the US with more store opening, while putting the far east markets on pause for now.

Happy with progress, limited volume growth but great and stable ROCE.

[nod] 27/7/2016 05:51

Are Lloyds Banking Group plc, Games Workshop Group plc and PZ Cussons plc Brexit bargain buys?Games Workshop (LSE: GAW) warned in January that pre-tax profit for its financial year to May would be unlikely to exceed £16m. However, the company has bounced back since its disappointing December. Today, in its annual results, it posted a pre-tax profit of £16.9m. That's a modest rise of 2.1% on last year, but earnings per share rose 9.9% due to a lower tax rate.At a share price of 455p, the price-to-earnings (P/E) ratio is cheap-looking 10.8. And, after paying a 40p dividend during the year, the trailing yield is a whopping 8.8%.This highly cash-generative company is run with no debt, and the board has a commitment to "distribute genuinely surplus cash to our shareholders". Thus, after reinvesting £12.6m in the business and distributing £12.8m to shareholders, year-end cash of £11.8m was little changed from last year.Games Workshop is an international business centrally run from headquarters in Nottingham, with 72% of sales coming from outside the UK. The company has no policy to hedge against foreign exchange exposure and should benefit from the weakness of sterling since the referendum.TMF

[philanderer] 26/7/2016 21:13

Questor share tip:

Buy Games Workshop as company leverages fantasy brands

[argylerich] 26/7/2016 08:09

Must be. It was paid after the report date hence the cash in bank. All part of the realignment from 3 divis to a more normal 2 I guess.

[martincc] 26/7/2016 07:50

A dividend of 20 pence per share, amounting to a total dividend of GBP6,413,000, and a further dividend of 20 pence per share, amounting to a total dividend of GBP6,424,000, were declared and paid during the current period.

Implies they have already declared a (20p) final divi?

[argylerich] 26/7/2016 07:39

Wot no divi yet? Announced on the same day last year and cash in bank very similar levels.

[nod] 21/7/2016 06:20

Peel Hunt have set a target price of 680 GBX. This now indicates the analyst believes there is a possible upside of 47.8% from the opening price of 460 GBX.

[nod] 09/7/2016 10:25

On the licensing front:"Video games based in the Games Workshop universe are seeing a resurgence right now - both Total War: Warhammer and Battlefleet Gothic: Armada were released recently.In addition to DOW III, there are several other GW titles currently in development, including Space Hulk: DeathWing, Man O' War Corsair, Warhammer 40,000: Eternal Crusade, and Warhammer 40,000: Inquisitor – Martyr.Dawn of War 3 is set to be released at some point next year."

[shroder] 04/7/2016 07:38

Cheers Nod, i did manage to pick up some on Friday, lucky trade on the bid side.

[nod] 30/6/2016 21:54

GAW will benefit from a weaker pound as manufacturing costs and head office are in pounds. Wild fluctuations would not help but a sustained depreciation of the pound would help - so long as this pound depiction did not affect UK sales through a UK recession.

[nod] 30/6/2016 21:50

From wikiMany hedges do not involve exotic financial instruments or derivatives such as the married put. A natural hedge is an investment that reduces the undesired risk by matching cash flows (i.e. revenues and expenses). For example, an exporter to the United States faces a risk of changes in the value of the U.S. dollar and chooses to open a production facility in that market to match its expected sales revenue to its cost structure.In the case of GAW, North America sales are greater than UK sales but it manufactures in the UK. It presumably applies as many costs relating to US operations as it can e.g. apportions the cost of head office, online and IT throughout the year.

[shroder] 29/6/2016 21:37

Just wading through the 15 AR.

Can anyone elaborate on what GAW use as a 'natural hedge', I assume it's product made locally?

Also pound weakness against dollar/euro should be good?

Thanks,

[nod] 07/6/2016 22:44

"slightly above market expectations due to earning more licensing income than we were expecting."The trouble with licensing income is that it's very lumpy (uneven). A good year is followed by two lean years. Hopefully GAW has finally got the core business on a growth curve.

[woozle1] 06/6/2016 22:02

Ahead of expectations and sales are not falling. That's better news. We should get some more colour at the update.
W

[nod] 30/5/2016 21:47

GAW has over 50 royalty agreements and hasn't released revenue details per product. Total War looks to be a big one though as it's a huge seller. With online gaming and subscriptions it's a lot harder to work out royalties. GAW does it on trust based on what the licensor reports as sales. All the below is from a blog write-up in July 2015."- this is from Games Workshop's 2014-2015 Finance Report"In the period we signed 17 new deals and have 44 contracts currently in place to produce more than 50 interactive products. Reported income is split: 52% traditional PC games, 27% mobile and 21% card, board and role-playing game licences. 37 new products were released in the period. We also announced a major tie up with SEGA to develop a real time strategy game 'Total War: Warhammer'."The whole report is here at: I find it interesting that even though there are quite a few Games Workshop IP games both digital and physical (apparently 50+?) in the pipeline, the CEO made special mention of TWW. This shows that CA has its reputation not only with the consumer, but its reputation to handle outside IP well. Games Workshop is not considering this just another deal signed out to see if it brings home any bacon and no biggie if it doesn't. Sounds instead like they are considering TWW a big deal and a serious partnership.Either that or just name-dropping Sega gets shareholders excited.

[woozle1] 30/5/2016 10:56

If they get around 5% then that's an additional £1m of royalty income. Also interesting to see how the WoW movie goes. Because if that goes well expect the studios to come knocking at GW's door, if they haven't already.
W

[woozle1] 29/5/2016 14:54

Wow .. that's £20m in revs for the gaming company .. what is % for GW? And how does that compare with the other Totalwars?
W

[nod] 28/5/2016 08:55

Good newsTotal War: Warhammer sells 500,000 in three daysThe game has also proven popular with critics, currently sporting an 87 score on Metacritic with 52 outlets having weighed in.Sega might benefit further from its partnership with Games Workshop, as it has Relic Entertainment working on another real-time strategy Warhammer 40,000 game, Dawn of War III, with an as-yet unspecified release date.Total War: Warhammer is the fastest-selling Total War game everStrategy kings.AND Interim dividend payment date on Friday..

[nod] 20/5/2016 12:51

Plenty of vert positive reviews on Total War : Warhammer. We get a few pennies from every sale.

[nod] 18/5/2016 19:46

A big Warhammer splash in the Apple App Store today in what GAW has named Digital Assault. Several games are free and others are at bargain price. The games require a lot of storage space on your device.

[argylerich] 25/4/2016 07:53

Well we've got the 20p divi, but will that be enough to end the negative sentiment?

[nod] 15/4/2016 21:37

The store changes were primarily in the USA where the previous CEO and Chairman had opened expensive stores in shopping malls. Many were loss-making. The high visibility helped boost sales in the US but hit profits.