Games Workshop Share Chat (GAW)

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
	+15.00p	+0.45%	3,380.00p	3,380.00p	3,390.00p	3,440.00p	3,340.00p	3,345.00p	84,527	16:35:19

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Leisure Goods	219.9	74.5	185.0	18.3	1,096.43

Games Workshop Share Discussion Threads

Showing 3426 to 3449 of 3450 messages

Chat Pages: 138 137 136 135 134 133 132 131 130 129 128 127 Older

Date	Subject	Author	Discuss
20/8/2018 14:15	Answering the question about large models, the answer is usually yes. It was especially true during the 7th edition of 40k where we had a huge arms race between each new codex. For example, during that edition, new Imperial Knights were extremely powerful (not so much now), 3+ knights allowed to make a separate, relatively cheap, but very powerful army, that is partially a reason why they were selling so well. If we go forward to 8th edition, the good example is Imperial Guard's Baneblade variants. If you play competitively, it is very likely that you have at least 1 in your army.	santr0	Read Full Thread Reply
20/8/2018 14:07	Painting is a very expensive service (especially on eBay) because it takes a very long time to paint and assemble these armies. Even a small sized army would take a few dozen hours to be properly painted, considering that it is a specialised service, the price tag is accordingly high, so there is no surprise in price tags in 1000s for middle-sized properly painted armies. The demand for it is very limited, just ask some players in your local store about who painted their minis and usually the answer is themselves. Therefore I don't think that there is a solid reason for GW to provide painting services as it won't be able to compete effectively with specialised painting studios who accept orders for any minis and therefore able to keep the prices low (GW is well known for its ridiculous price levels).	santr0	Read Full Thread Reply
20/8/2018 12:43	I just had a look at ebay, many of the expensive auctions are offering painting services, i.e. for people who wish to commission a custom painted army. There is obviously money floating about. Perhaps GAW could cut out the middlemen and hire an army of people to paint on a piecework rate and sell direct.	epo001	Read Full Thread Reply
20/8/2018 12:29	Whilst I can understand the obvious advantage for GW gamers in having large armies, is there also a strategic advantage in owning the more expensive, larger models? Do the latter provide more 'military power' and a greater chance of winning the GW tournaments? I presume Games Workshop have provided an added incentive for hobbyists to spend more in the retail stores and online.	robinnicolson	Read Full Thread Reply
20/8/2018 10:21	Large buy of over £400k went through after 10:00. Someone is confident this will go higher? Moving towards resistance at £35. But this is on my chart, and what do I know?	snew	Read Full Thread Reply
19/8/2018 23:13	My son sold his LOTR models and magazines around four years ago. There were a few bidders and he set the reserve quite high, not knowing if there was any demand in New Zealand. The interest in WH was picking up around then - he had been watching the WH auctions for a year or two, waiting for the right time. He was very pleased with the cash raised. The metal models fetched good prices. I would imagine some models would increase in value over time if they are no longer produced by GW. I think he kept a few metal ones that he thought may become valuable.A guy who picked some up was an eccentric looking chap and very friendly. Around 50 years old and still participated in the hobby. Looked like a young Gandalf.	nod	Read Full Thread Reply
19/8/2018 08:54	Thanks Nod. I had a glance at eBay...astonishing prices. £5,000 for a large army! Presumably there are some people who only have an interest in the collecting aspect and are happy to buy models built and painted by others. Are there some very rare, limited edition, GW models? I noticed that a model retailing for over £1000 has sold out on the GW online store, so people will obviously pay big money. This is an angle I had not considered: "Games Workshop’s U.S.-based outreach manager estimates that 20 to 25 percent of Games Workshop’s American customers are active members of the military. If you include veterans, she says, that number jumps to about 40 percent." hxxp://www.slate.com/articles/life/gaming/2012/09/warhammer_40k_why_american_troops_love_to_play_a_game_featuring_orks_necrons_and_space_marines_.html?via=gdpr-consent	robinnicolson	Read Full Thread Reply
18/8/2018 23:19	It would be very difficult to calculate the number of active customers. A couple of metrics are available: UK revenue is now a bit under 25% of global revenue. So, if there are 500k active customers in the UK there may be around 2 million active customers worldwide. This is just an example, I have no idea how many UK hobbyists there are. Around 80% of customers are hobbyists / collectors but don't play the games (a figure given in a WH magazine a few years ago). A very large percentage of people buy second-hand models on e-bay and other trading sites, some are collectors and some players. Some say they never buy new. Most 2nd hand transactions are invisible to GAW but will likely result in regular visitors to GAWs online sites. I would hazard a guess that the second-hand market is much larger in the long-established UK market than in the now bigger but relatively new USA market. People retain an interest in the products for many years after they stop buying them. This is like people watching football for many years after they stop playing football.	nod	Read Full Thread Reply
18/8/2018 20:47	Private company Privateer Press, from what I could glean from a brief Google search, is only a minnow in comparison to GW. Annual revenues of approximately $6-10 million and 49 employees. Over the past 15 years, GW has been able to achieve an average gross margin of 71%...an extremely strong consumer monopoly! Management themselves talk about their 'frontier wall' and 'frontier moat'. Any potential competitor now has to battle against an incumbent who has decades of experience and the ability to annually ship + 30 million high quality models around the world. Does anyone know roughly how many GW hobbyists there are? In 2001 the estimate was 500,000, of which 300,000 were based in the UK. In the latest report, the CEO wrote about 5 million users of the Warhammer content online. I wonder how many of those actively buy GW merchandise?	robinnicolson	Read Full Thread Reply
18/8/2018 17:59	Yes, that case was pretty famous, although I believe it was under old management, who were also ridiculously over-protective on the licensing side as well. Things seem to have relaxed a little since.	push n run	Read Full Thread Reply
18/8/2018 01:09	GAW is well-known for actively protecting its IP through IP lawyers. This doesn't always go down well as they can stretch claims a little too far. The TM for Space Marines for example, when the name has been used as far back as 1930. A spat a few years ago portrayed a somewhat negative image of GW. https://www.theguardian.com/books/2013/feb/07/superheroes-space-marines-lawyers-copyright Maggie Hogarth won that spat. https://en.m.wikipedia.org/wiki/M._C._A._Hogarth	nod	Read Full Thread Reply
17/8/2018 23:32	As that reddit post says, GW's moat is in the IP. Other companies may come up with similar or better games and models, but it's difficult to compete with decades of storytelling, characterisation and worldbuilding. Warhammer, Age of Sigmar & 40k are all ridiculously epic and over the top universes, which people fall in love with as kids. These days, without wishing to generalise too much, a significant portion of those kids grow up to be computer programmers and finance professionals with plenty of disposable income, and "nerdy" activities are becoming more socially acceptable over time(e.g. comic book movies). The strength of the worldbuilding also makes it easy to license out, and the licensing both generates profits and creates a feedback loop, as the computer games draw more people into the hobby. Of course they will probably make missteps over time, but they've been around for over 40 years so far through thick and thin, they're not going anywhere.	push n run	Read Full Thread Reply
17/8/2018 22:22	One gamer's view:https://www.reddit.com/r/Warmachine/comments/7s007z/why_i_prefer_hordeswarmachine_over_warhammer40k/#thing_t1_dt1bcx0Given our sales in the USA in recent years, we may be winning that war.	nod	Read Full Thread Reply
17/8/2018 22:06	There is a major competitor in the USA that has been around since 2000 named Privateer Press. They produce miniatures very similar to GAW. Their products Warmachine and Hordes are on sale in New Zealand. https://en.m.wikipedia.org/wiki/Privateer_PressI just did a Google and there are plenty of gamers who prefer Warmachine. Reddit is full of discussions between the two camps. Another product KoW is mentioned as a third alternative.	nod	Read Full Thread Reply
17/8/2018 16:43	As long ago as 2004 Tom Kirby, (CEO and Chairman at the time), wrote that "the main source of risk remains management error"...a warning echoed by present management. It must be extremely rare for a company not to be primarily worried about a serious competitive threat developing...especially over such a long time span. Does anyone know of any potential rivals emerging, perhaps in the USA, or has Games Workshop dug an almost insurmountable moat?	robinnicolson	Read Full Thread Reply
17/8/2018 15:22	Following on from the post above regarding the 'Buffettology' fund, I am absolutely certain there is no fund manager with a deeper knowledge of Games Workshop than Keith Ashworth-Lord of Sanford Deland. He was writing in-depth investment articles about GAW for 'Analyst' magazine more than twenty years ago. He is still adding to his fund holding. According to Morningstar another 14,003 shares were bought in the period ending July 2018.	robinnicolson	Read Full Thread Reply
17/8/2018 12:55	Rhomboid, I think the clue is in "net funds" at year end. This is above the para you posted.2016/17 year accounts:"there were net funds at the year end of £17.9 million (2016: £11.8 million)." ... 52% increase on prior year2017/18 accounts:"there were net funds at the year end of £28.5 million (2017: £17.9 million)."Around 10.6 million more this year end ... 59% increase on lastGAW distributes to shareholders cash it does not require.	nod	Read Full Thread Reply
17/8/2018 12:11	It's been proven that there's an inverse correlation between number of bulletin board posts and investor returns, so not a huge surprise that there's not much activity here!	push n run	Read Full Thread Reply
17/8/2018 10:59	I’m expecting dividend news too..the only Q is what level given the greater level of Capex..from the results ‘In 2017/18 we invested £1.4 million in shop fits: 43 new stores and 7 refurbishments. We also invested £4.4 million in tooling, milling and injection moulding machines and a further £3.1 million on moulding tools. The investment in computer software relates mainly to the work on the new ERP system. The investment in Lenton site includes the purchase of land (£1.7 million) and building costs to expand the site. Capital investment is expected to be higher than depreciation and amortisation over the next few years as we increase our production capacity and upgrade our core back office systems in Nottingham’ ..so 28.5m cash at year end ..less 9.6m post y/e dividend but strong cash generation post y/e ..hmm I’ve no idea what level they’ll pay out but it could surprise the market on the upside if post y/e trading has been as strong as I suspect	rhomboid	Read Full Thread Reply
17/8/2018 10:46	Compared with other boards that have 50+ posts a day and the share price moves little, this is a very quiet board. I suppose everyone else is too embarrassed to admit to being invested in toy soldiers. Coming up next I believe will be the dividend. GAW doesn't do predictable things on predictable dates, so it's best to give a very wide window on dates. Last year divis were June 20p and Sept 35p This year we had June 35p ... so I'm expecting a bonanza of 45p in early September. Any thoughts?	nod	Read Full Thread Reply
17/8/2018 10:24	I should have mentioned that a fund's past performance is not an indication of future performance.	nod	Read Full Thread Reply
17/8/2018 07:18	Retire wealthy: 3 spectacular growth funds that are smashing the FTSE 100 Edward Sheldon, CFA \| Sunday, 12th August, 2018 https://www.fool.co.uk/investing/2018/08/12/retire-wealthy-3-spectacular-growth-funds-that-are-smashing-the-ftse-100/ CFP SDL UK Buffettology Fund This fund came to my attention recently when I was browsing through Hargreaves Lansdown’s top performing UK (all companies) funds on a one-year basis. Over that time frame, the fund is actually the best performer on the investment platform with a 12-month return of a high 23.4%. And it’s not a one-year wonder either – over three years, the fund is up 69.1% and over five years it has returned an amazing 117.3%. The £409m fund is run by Keith Ashworth-Lord of boutique asset manager Sanford DeLand Asset Management. As the name suggests, the portfolio manager takes a Warren Buffett-esque approach to investing, looking for excellent businesses at an excellent price. The top holdings of Games Workshop Group, Bioventix, AB Dynamics, Dart Group, and LionTrust Asset Management suggest that the portfolio manager clearly has a small-cap focus here. Fees are relatively high at 1.3% per year through Hargreaves, but with such excellent performance figures, the fees don’t look unreasonable. Want To Retire Early?	nod	Read Full Thread Reply
15/8/2018 04:02	On the topic of own retail stores. These are hobby centres rather than profit centres. While they bring in a lot if revenue they have usually made a small loss. In 2016/17 - which was a very good year - the 462 own stores made an operating profit of only $500,000. Own store Revenue was greater than the Trade 3,900 stores. Seldom have I seen our stores make a profit. This past year was exceptional, giving us a profit of 7.2 million from our own stores with revenue growth of 27%. Trade outlets contributed 32.9 million in profit, on greater revenue than own stores for a change (for the first time I believe). Trade has been a step-change for revenue and profit. The stores, both own and Trade, are the primary places where we recruit new customers. This is why GAW has to give own stores a lot of focus and get the format right.	nod	Read Full Thread Reply
14/8/2018 23:43	Warhammer is expensive and classed in the luxury category. It requires a lot of cash before you can start playing tabletop.A six year old is probably too young to appreciate and participate in the hobby. My son and his friends were around nine when they first started going into the hobby store to paint and play tabletop. This was quite intimidating as the customers were mostly teenagers 13+ up to uni students and early 20s. Young kids have to be very mature to handle with this.At that time LOTR had been released and pulled in a lot younger hobbyists. Most of the veterans continued to play 40k while the newbies, plus a few vets, were drawn into LOTR. The excellent magazines sold at newsagents played a key role in the marketing, with a free LOTR model with each issue (some metal models).I started my son on cheap models that he could practice painting. Painting is a key part of the hobby. Those kids who didn't enjoy painting tended to drop out fairly quickly.	nod	Read Full Thread Reply

Chat Pages: 138 137 136 135 134 133 132 131 130 129 128 127 Older