Games Workshop Share Discussion Threads

[shanklin] 04/5/2018 16:16

From the jobs page amongst other things it is clear GAW are investing heavily in growth. So I can believe costs will be up quite a lot but hopefully this will drive sales growth.

[mad foetus] 04/5/2018 16:02

I just don't understand the predictions for next year. No doubt they will be exceeded.

[shanklin] 04/5/2018 16:00

So, a £16.8m fall in sales will lead to a £16m drop in profits. That is operational gearing.

[robinnicolson] 04/5/2018 12:23

Shares magazine article: "Peel Hunt analyst Charles Hall increases his year to May 2018 sales forecast by £6m to £217m and his adjusted profit before tax estimate rises by £4m to £74m, although sales and profits will reduce to £200.2m and £58m next year due to demanding comparatives and the impact of currency."


The article quotes Russ Mould, investment director at AJ Bell:

"Ten years ago it would have seemed unimaginable that Games Workshop would end up a FTSE 250 company.

Interest in tiny fantasy figures had waned following a strong period inspired by the success of the Lord of the Rings films.

It battled profit warnings rather than miniature warlords."

"A decade on and its share price has increased more than 12-fold and the company is sitting in the prestigious mid-cap stock market index. The business has struck a chord with a new generation of fantasy fans and is engaging with customers via multiple channels.

While Warhammer figures may not be to everyone’s taste, Games Workshop has proved that it is possible to be a retail success if you know how to connect with your market and have the right products and superior service levels."

[nod] 04/5/2018 09:28

"the good growth trends have continued to the end of April.""good growth" sounds more positive than "slightly"

[discodave4] 04/5/2018 09:28

So PH on a trading statement with no numbers and an ahead forecast decide to go from buy to hold and increase the tp.Unbelievable IMO, never take much notice of analysts forecasts......but unfortunately the market does.Would their (PH) update have been done prior to today's trading update anyway, ready to just ping it out this morning?.DD

[glaws2] 04/5/2018 09:28

Dunno - can't get hold of Peel Hunt notes.

[shanklin] 04/5/2018 09:14

Did PH provide updated broker estimates or just the inane change to HOLD?

[glaws2] 04/5/2018 09:05

Its also slightly confusing as they have raised the target price from 2400 to 2450. I presume they have gone from buy to the now hold.

[pnetol] 04/5/2018 09:03

That amazes me, why downgrade on yet another profits upgrade??

[robinnicolson] 04/5/2018 09:00

Peel Hunt downgraded GAW to 'hold' this morning. PT 2450

[hatfullofsky] 04/5/2018 08:54

FY18 £70m ePBT with a MCAP £790m, good value to me especially with the slightly above statement.

I've jumped in today but looking like I should have waited, interesting early reaction but expect this to rise into the June update

[pnetol] 04/5/2018 08:14

Personally I think ,now they are in the mid 250, that they are playing things much more conservatively and also conventionally as the RNS is at 7am, highly unusual for GAW.

[cfro] 04/5/2018 07:45

Guess we will find out in early June with a further update. I suspect that one will be more detailed.

[shanklin] 04/5/2018 07:16

Cant't believe it, a trading statement at 7 a.m.

Unless it's very conservative, it suggests there is less of an H2 weighting in sales than recent years.

[tommyharris] 04/5/2018 07:09

Profit for 17/18 'slightly above expectations'

[cockerhoop] 03/5/2018 14:43

Woozle1,

Regards exchange rates I think it's very hard to predict. I agree a Hard Brexit would cause £ weakness but equally joining 'a customs union' would strengthen £ and is no likely imo.

Went into the Derby store whilst at Mello and although the manager was very friendly I didn't really get a feel of how things are progressing in H2.

[pnetol] 03/5/2018 13:07

Nod,This is my biggest holding by far and I appreciate your comments and thought process, I am hoping for another good update at the end of May / start of June

[nod] 03/5/2018 12:05

mf, yes valid speculation.
As technology advances games get better, faster, immersive. Whether VR will sell in the millions remains to be seen.

[woozle1] 03/5/2018 12:04

If we head for the rock hard Brexit that so many people seem to want, expect £ to depreciate. The only reason that it has bounced is (i) the markets think we are staying and (ii) $ weakness. In the absence of these two factor it's £ back in the 1.20s.
w1

[nod] 03/5/2018 11:59

On the exchange rates, the two important rates are USD and EUR

GBP has remained weak but stable against EUR - overall average weaker than last financial year

GBP-USD - USD has weakened over the year. The average rate looks like it may be similar year-on-year.

[mad foetus] 03/5/2018 11:52

I know very little about GAW, and only have a small stake. But I wonder whether the launch of the new Oculus VR could open lots of opportunities for GAW. The idea of being immersed in a virtual war hammer world would be as close to a killer app as you could get. Obvs GAW wouldn't do the development, but there could be very hefty licensing fees there. All speculation of course.

[nod] 03/5/2018 11:49

Last year the divis were announced Jan, Mar, June
This year the divis were announced Dec, Feb, ???

The pattern has been a month earlier than last year, which would be May ... but GAW likes to do the unexpected.

I doubt the bad weather had much of an impact on GAW - there are not tens of thousands flocking to watch a game. It's not Old Trafford.

If a game is postponed they play a few days later, just as they do with football.

Bad weather has a financial impact when events are cancelled, like horse-racing, rather than postponed.

[pnetol] 02/5/2018 12:32

Neither has mine, I just wonder given the bad weather in March in the UK and the fact that sterling has appreciated a little over the last year means that GAW will wait until they do a trading update at the end of May and then we have a dividend in early June??? Any thoughts??

[nod] 02/5/2018 12:17

Not yet Fred. My crystal ball has never worked with GAW.