Share Name Share Symbol Market Type Share ISIN Share Description
Games Workshop Group LSE:GAW London Ordinary Share GB0003718474 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -4.75p -0.83% 567.50p 562.50p 572.50p - - - 792 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Leisure Goods 118.1 16.9 42.1 13.5 182.28

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Date Time Title Posts
22/10/201600:00Games Workshop & Warhammer Online1,015
14/1/200814:47Games Workshop Short with Charts3
16/9/200409:47The Trolls do it again95

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Games Workshop Daily Update: Games Workshop Group is listed in the Leisure Goods sector of the London Stock Exchange with ticker GAW. The last closing price for Games Workshop was 572.25p.
Games Workshop Group has a 4 week average price of 551.85p and a 12 week average price of 533.01p.
The 1 year high share price is 625p while the 1 year low share price is currently 0p.
There are currently 32,119,308 shares in issue and the average daily traded volume is 13,062 shares. The market capitalisation of Games Workshop Group is £182,277,072.90.
nod: I would agree with most of this MF article except perhaps the conclusion. The shares are currently cheap because licensing is lumpy. It has always been lumpy - a point I have made on this board for ten years. If license revenues fall next year that is expected and already in the price.Britain was a world leader in video games and still provides the talent to many US companies. What a shame British software developers can't get the financial backing anymore.The article raises some valid points about the core business "spluttering" due to poorly implemented changes.MF article follows:Video gaming is big business. The industry is valued at around $100bn right now and with the rise of mobile gaming and the widening of the demographics that are playing, it only looks set to expand.Unfortunately for us, most video game studios tend to list in America, but there are a few small-cap shares with direct exposure to this gargantuan and growing industry, one of which I believe could transform your portfolio. From tabletop to desktopGames Workshop (LSE: GAW) is famous for its Warhammer and Lord of the Rings tabletop war-games. These games have rich backgrounds and gamers are as invested in experiencing the game worlds as they are in playing the game itself."The history behind these fictional worlds has been built up since 1975. There are literally hundreds of novels and thousands of short stories written about the universe. One of those novels, A Thousand Sons by Graham McNeil, even hit the New York Times Best Sellers List. The rich tapestry created by this library of fiction isn't easily replicated and the resultant fictional worlds are the company's greatest assets. Gaming studios are often attracted by the detailed lore and established customer base, and pay Games Workshop handsomely to take advantage of both.But the company's core business of selling models to hobbyists is spluttering, largely due to poorly received rule changes and aggressive price hikes. Sales have fallen from a peak of £134.6m in 2013 to £118m last year. This took an even greater toll on core operating profit, which fell 27% last year, but a mammoth jump in video game licensing profit from £1.5m to £5.9m kept operating profits level.Unfortunately, with the core business struggling and licensing income depending on the success of outside influences, Games Workshop's prospects are unclear right now.Trading at only 12.4 times last year's earnings, the shares may appear cheap, but if the lumpy licensing income was to return to 2015's level, operating profit could drop from £16.9m to around £12.5m, with the share price likely to follow.Therefore, I recommend waiting on the sidelines unless the core business turns around.
nod: 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
nod: MONEY OBSERVEROctober 1, 2015 - 10:04am - Richard BeddardGAMES WORKSHOP (GAW)In full-year results for the year to June 2015, fantasy wargaming and modelling company Games Workshop reported revenue down 4 per cent. Adjusted profit fell 5 per cent.New chief executive Kevin Rountree said the fall in revenue and profit was due to adverse exchange rates and poor trading in Europe. The strong pound made exports from Nottingham, where the company makes its models, more expensive. About half of the fall in revenue was deemed 'non-core' by the company.In Europe, the company has closed its regional headquarters, removed middle management, centralised its trade sales teams at home, and continued rolling out the one-man store format, which involves shutting down larger stores and opening smaller ones carrying less stock and operating reduced opening hours.Rountree says that in the second half of the year the trade sales team, which sells to independent hobby stores, grew revenue very slightly in Europe. The company's own European stores are taking longer to adjust.Renewed impetus may also come from the newly relaunched Warhammer Fantasy game, 'Warhammer: Age of Sigmar'. The company is rebranding Games Workshop stores 'Warhammer' too.By cutting costs, Games Workshop has remained comfortably profitable. Return on capital in 2015 was 13 per cent, slightly above the six-year average. The company thinks modest growth will resume when the disruption from the restructuring abates and revenue from new stores it plans to open kicks in.A share price of 565p values the enterprise at £230 million, about 16 times adjusted profit. The earnings yield is 6 per cent.
nod: Yes, agree Super. Over the years GAW has distributed excess cash in a random ways. Thee is no pressure on them to maintain a 3% dividend or anything like this to keep major shareholders, as many large companies try to do to protect their share price.I read this as very positive for cash flow. Unfortunately for investors the current boss likes to create a lot of dungeons & dragons style mystery and quest around the company.
trident5: Nod thanks for the link - it does refer to TK as "acting CEO" so clearly it's not being viewed as a permanent position, and you wouldn't want to hurry finding the right person. But, its being going on for over a year and that's too long. 2M - I'm not sure what you're reading into the gaps. The share price movement on this stock is generally fairly quiet - the gaps are just reactions to trading updates and results, I would have thought. And pretty meaningless about where the share price is headed in the future, positive/negative updates will largely determine that.
nod: above link is Kirby's obligatory 'comply or explain' to the LSE. He breaches two fundamental UK Corporate Governance Rules and is obliged to explain why in each annual report.Breaching one rule is bad and breaching two rules is dreadful. This keeps institutional investors away as they understand the risks associated with these breaches.Since first breaching the rules in January 2013 the share price has tumbled. In my opinion that is a combination of poor management and poor Board level influence. What we have with GAW is a one-man band. That's dangerous and seldom good for shareholders. We have been here before and it was fixed with the appointment of Mark Wells in 2007. The impact for shareholders was dramatic, with great results for five years.Kirby may have the right ideas but he obviously lacks the management skills to implement changes effectively.
nod: Mozy, Maggie was obviously not short on GAW because she didn't make her first post until the 16th after GAW opened well down. She doesn't strike me as someone who would have kept quiet while holding a short position from the days before. Maggie is one of these sick people who like to wallow in others misery when their investments fall. Like standing over somebody who has just fallen off ladders, gloating about their fall and giving idiotic rantings about (a) how she predicted the fall and (b) why it will happen again. A lunatic waffling nonsense while the person is lying injured on the floor, but offering no help.Maggie never had any opinion on GAW until after the fall. A complete newbie to GAW and yet she knows everything. There is a sick Maggie on every stock in these situations. They have delusions of grandeur that they are influencing holders and the share price.Quantum Hedge Fund was obviously short and their holding was known to us before the fall. In hindsight, that was a warning. They obviously had inside information on the numbers.
2magpies: " SuperstarDJ 16 Jan'14 - 13:28 - 548 of 564 0 0 .....................Don't view the lack of a dividend today as being a sign that there won't be another thumping great payout at some point in the next few months, i.e. some time before the final results in the summer. Quirky I agree. But then again, many things about this company are quirky. You have to look through it and be prepared to take the rough with the smooth. On a different point, at 550p, the share price is only about 15p above where Tom Kirby pumped in £1m of his hard-earned in March 2012. Now if he were to do that again ... " Revenues are declining - and the Company hasn't commented on this, which suggests, to me, an acceptance of a trend. The share price performance reflects a 'growth company' perception. So the view must be revised, imo. ...................................................................... "Woozle1 16 Jan'14 - 13:33 - 549 of 564 0 0 ............. The delay in the trading statement means that Xmas must have been good and don't forget that Xmas sales are not in these numbers (this is 6 months to 1st Dec), which means that they are expecting growth because they are seeing growth. If Xmas had been bad, they would have warned alot earlier and they have warned straight after the New Year before. So, although H1 was bad, H2 doesn't look anywhere as dire and was probably not too shabby. Otherwise, the board would have been in breach of their fiduciaries duties. Having owned this for a few years, I can tell you management are not afraid of warning (in fact I think Tom Kirby may get a perverse kick from it) ...." They said their performance would be 'broadly in line' with market expectations. Clearly not. Delay is usually a sign of bad figures: they tend to take longer to add up! (as any accountant will tell you). It is notable that, despite, the latest figures, GAW hasn't said anything about 'market expectations' this time. Several posts betray nervousness, and or weak holders. Also it is alarming that nothing at all has been said about current trading. Too many seem to have fallen in love with this stock. IMO there may well be a bounce, but director buying needs to lead the way.
superstardj: I see comments that the dividend has been omitted. For a couple of years now, GAW has dissociated dividend payments from results announcements on the grounds that it will pay out surplus capital to shareholders as and when it is appropriate. Don't view the lack of a dividend today as being a sign that there won't be another thumping great payout at some point in the next few months, i.e. some time before the final results in the summer. Quirky I agree. But then again, many things about this company are quirky. You have to look through it and be prepared to take the rough with the smooth. On a different point, at 550p, the share price is only about 15p above where Tom Kirby pumped in £1m of his hard-earned in March 2012. Now if he were to do that again ...
nod: a read of the above company statement as to why GAW does not and does not need to comply with the UK Governance Code - on a number of fronts, including 'independent' directors (who are not really).It is now exactly one year since the CEO of five years stepped down. The strong share price growth for 5 years through to 2013 was undoubtedly down to Wells' strategy - which had corrected previously poor strategy from Kirby for several years before him, which had caused the share price to plummet.In less than one year Kirby has managed to turn the company around - but in the wrong direction again. GAW needs to leave Kirby in the USA where he wants to live to develop the US market and get a more mature CEO to run the company.
Games Workshop share price data is direct from the London Stock Exchange
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