Games Workshop Share Discussion Threads

[mad foetus] 09/10/2018 12:29

I'm not sure about the valuation getting ahead of itself. The big issue for me is brokers forecast of zero growth next year. Given that we have just had a year of 40% growth that looks most unlikely, and if we get decent growth next year (anything double digits) then, for the moat this business has, the current share price does not look expensive.

[woozle1] 09/10/2018 11:56

Big tree shake today. I think the valuation got ahead of itself.
w1

[nod] 09/10/2018 08:49

In January I mentioned the S&P Global Luxury Index SPGLGUNAn index of luxury brands i.e. Expensive products, which includes Nike and many other household names.https://www.tradingview.com/symbols/SP-SPGLGUN/The index rose steadily from early 2016 and peaked around 11 June 2018. Since then it's been volatile reflecting the volatile stock markets.The index represents a wide basket of luxury brands and may be a bellwether of spending by the relatively affluent.

[cockerhoop] 09/10/2018 08:16

Yeah, not only that there's some bad stuff going down in the Mortal Realms that's concerning :-)

[nod] 09/10/2018 03:06

Global markets remain in turmoil with major issues in so many places. The IMF has just nudged down global growth forecasts citing "trade disruptions". We have Italy vs EU, UK vs EU, USA vs EU, USA vs China, USA vs North Korea, USA vs Iran, Russia vs The West, and so on. There's a lot of uncertainty and stock markets don't like uncertainty.The Italy debt is turning into Greece II, which could negatively impact the Euro exchange rate (impact on GAW eu profits). However, when the Euro falls the USD usually rises as there are few other currency options today. US bond yields have been rising and this is also making stock markets jittery. JPMorgan are suggesting bond yields may fall back as investors buy US bonds (bond prices then go up, lowering the bond yield). US corporate earnings are expected to be good, benefitting from those tax cuts. This may be enough to give markets a kick up the bum. And the USD a boost.

[cockerhoop] 08/10/2018 20:32

It's actually the 2nd Interim dividend, with the 1st this financial year announced 8th June and paid 27th July (30p)

[epo001] 08/10/2018 20:15

How is the 2/11 payout of 35p/share a "further" dividend, as I have seen it referred to on various sites?

Is this not just the 1st interim with the previous year's sequence of dividends continuing?

[nod] 08/10/2018 03:11

Robin, I'm still on 3.0.3 from last year. It seems to be fairly stable on an iPad. It does have a few bugs but it doesn't crash as prior releases had. I'm cautious about upgrading - I'll wait a few more months.I much prefer the iPad app over the web browser version which has a lot of annoying pop ups and frequent timeouts. I tried the app on my mobile but find the presentation a bit too crowded on a small screen. An annoying bug is when I have used the desktop version the iPad app doesn't recognise that I'm logged out of the browser version. It does quite a few interruptions on the iPad before it recognises that I am not logged in on the browser. I always do a logout on the browser app but that doesn't seem to register properly.

[push n run] 07/10/2018 16:25

The new total war release looks fun - Vampire Pirates! I love this company....

[robinnicolson] 07/10/2018 10:16

The buggy ADVFN mobile app was updated last week, adding post counts..although it is not synched with the ADFVN website. The post count is out by 1.

The ADFVN website has the appearance of last being updated in c.2005.

[nod] 07/10/2018 09:50

"when they become obsessed with something it is always an all consuming endeavour."That applies to millions of people who play computer games. Are they all on the spectrum?

[nod] 07/10/2018 09:45

Another difference with the ADVFN app is there are no post numbers :). The posts are also in reverse order (newest at the top), so when people refer to a post below or above it may mean different things.It's all perspective. What seems odd to one person is not odd to another.

[nod] 07/10/2018 07:30

epo001, re your point: "I'd imagine the kind of young men that are keen on this hobby are more likely to be on the spectrum and so tending to not be that outgoing or sociable." Some of those who stay in the hobby into manhood can be a bit special. Our bread and butter are 10+ and teenagers. Most of the teenagers who stay for 3-5 years are perfectly normal and always of high intelligence. You have to be very bright to learn the complex rules, and have the ability to concentrate for many hours painting and gaming. All the teenagers I know who practiced the hobby went on to become high academic achievers at uni and subsequently went into professional careers. They all did sports, such as football, tennis, girls, etc. It was the demands of other activities that usually lead them to drop the hobby.

[robinnicolson] 06/10/2018 13:59

Keith Ashworth-Lord is still buying for the Sanford Deland 'Buffettology' fund. According to Morningstar a further 24,500 shares were bought in September, taking the current position to 824,500 shares (6.48% of total fund assets).

[nod] 06/10/2018 11:48

You would have thought The Economist would have used their own Big Mac Exchange Rate, which more accurately reflects GAW's product prices.300 gbp is 496 usdhttps://www.bigmacindexconverter.com/

[cockerhoop] 06/10/2018 11:14

Good to see GAW reaching The Economist

One error in the article I spotted was a £300 army in the UK would actually cost approx $500 in the US because the exchange rate used by GAW rather than $390.

I was talking to the owner of an Independent store who was very scathing of the Kickstarter projects - I think the vast majority fizzle out. It's very difficult to overcome GAW's 40 year moat.

Agree GAW was well positioned but the new approach to embrace social media has been a massive tailwind in recent GAW growth imo. They certainly seem mad for it in the US with plenty of growth still to go for.

[epo001] 06/10/2018 09:48

Nice about the Economist article. The social side of it is a good observation, I'd imagine the kind of young men that are keen on this hobby are more likely to be on the spectrum and so tending to not be that outgoing or sociable.

Nod, thanks for cleaning up the web page header, never ever used the app. perhaps I should.

[nod] 06/10/2018 04:18

We are in The Economist - the pinnacle of serious business and economic analysis.

Britons are increasingly turning to tabletop games for entertainment
As nerds have got richer, nerd culture has grown
Oct 4th 2018

THOSE who complain that Britain doesn’t make anything any more should be heartened to learn that the country’s most successful listed firm is in fact a manufacturer—sort of. Business at Games Workshop, which makes the miniature figures used in its Warhammer series of tabletop games, is booming. Shares in the Nottingham-based company have risen by 660% over the past two years, making it the most successful firm in the FTSE 250 share index.

For years, Games Workshop was known primarily for two things: pricey products (a Warhammer army can cost well over £300, or $390) and unfathomably complicated rules. Since installing a new boss in 2015, the company has simplified its Warhammer series and relaunched a number of older, more casual games, most notably “Blood Bowl”, which pits orcs against elves in violent American-football matches. The strategy is working. In the 12 months to June 2018 the firm reported net profit of £60m, up from £13m two years earlier.

Games Workshop’s growth is part of a broader rise in interest in tabletop games. Figuring out exactly how many epic battles between dwarves and goblins are taking place across pub tables is hard, because most such games are made by private firms. But 22,000 people went to this year’s UK Games Expo, the country’s largest tabletop-gaming convention, up from 12,000 two years ago.

One reason is an improvement in games’ quality. ...

[nod] 04/10/2018 20:21

With the ADVFN app for mobiles we don't see thread headers and are unable to access headers within the app. I assume few people see the thread headers these days. Also there's no post Edit function in the apps, which is annoying as Apple autocorrects incorrectly many times. I use the ADVFN iOS app 99.9% of the time. I will go on a computer when I have time and see if I can prune a bit. For a few years the header gave a brief company history from 2008 on. I guess this is of no interest now.

[epo001] 04/10/2018 10:27

This board's header needs a bit of pruning or updating, the key dates and bar chart are now pointless. Any chance, Nod?

[nod] 04/10/2018 10:17

pnr, the number of shares involved is tiny. It's possibly designed this way so they don't need to issue a tiny number of new shares and then update the number of shares in issue, which would incur fees. Although, some companies hold shares in their treasury to cater for share awards.

[push n run] 03/10/2018 23:02

It may seem convoluted, but I prefer it this way around, because it doesn't dilute existing shareholders.