Latest news with #GamesWorkshop
Yahoo
20 hours ago
- Business
- Yahoo
FTSE 100 climbs as earnings cascade brings cheer
The FTSE 100 made strong progress on Tuesday, boosted by results from AstraZeneca and Barclays, but it was a gloomy day for investors in Novo Nordisk. Russ Mould, of AJ Bell, said: 'It's a busy week for corporate earnings in the UK and US, and investors have plenty of news to digest. The latest set of UK results was generally well-received.' The FTSE 100 index closed up 54.88 points, 0.6%, at 9,136.32. The index had earlier traded as high as 9,163.24. The FTSE 250 closed 158.73 points lower, 0.7%, at 21,793.07, and the AIM All-Share closed down 7.27 points, 0.9%, at 765.75. In London, investors weighed a barrage of earnings with shares of AstraZeneca, Barclays, Games Workshop and Entain moving higher, although Croda International struggled. Games Workshop led the way, up 5.4%, as it said pre-tax profit jumped 29% to £262.8 million in the financial year that ended June 1 from £203 million a year ago. The Nottingham, England-based fantasy game figurine maker and retailer said revenue rose 17% to £617.5 million from £525.7 million. Reflecting the strong earnings, the total dividend was £5.20, up 24% from £4.20 the year before. AstraZeneca, the largest FTSE 100 constituent, rose 3.4%. The Cambridge, England-based pharmaceuticals company said pre-tax profit jumped 30% to 3.13 billion dollars in the second quarter of 2025 from 2.4 billion dollars a year prior, or by 34% at constant currency. Revenue rose 12% to 14.46 billion dollars in the quarter from 12.94 billion dollars a year ago, or by 11% at constant currency, ahead of Visible Alpha's consensus of 14.31 billion dollars. Sales were driven by double-digit growth in Oncology and BioPharmaceuticals, with increases across all major geographic regions. Entain climbed 0.8% as it raised guidance at its BetMGM joint venture, while Barclays advanced 2.5% after well-received results and despite a lack of a guidance hike. Bank of America said Barclays printed a 'good' set of results, with underlying profit around 11% above consensus, driven primarily by higher income (particularly non-interest income) and lower impairments. But Croda International was down 10%. The speciality chemicals maker posted improved revenue for the first half, though impairments limited its bottom line. Croda's pre-tax profit in the first half of 2025 fell 19% to £85.5 million from £106.1 million, despite revenue improving 4.9% to £855.8 million from £815.9 million. Adjusted pre-tax profit rose 8.4%, however, to £138 million from £127.3 million. Revenue fell slightly short of the company-compiled consensus of £857 million. It beat on profit, however, as the adjusted pre-tax profit consensus stood at £136.6 million. The upbeat mood spread to Europe. The CAC 40 in Paris rose 0.7%, while the DAX 40 in Frankfurt advanced 1%. However, Denmark's Novo Nordisk plunged 23% as it lowered full-year sales and profit guidance, citing weaker-than-expected uptake of key weight-loss and diabetes treatments in the US. Novo Nordisk lowered its 2025 sales growth guidance to between 8% and 14%, down from 13% to 21%. It now expects operating profit growth of 10% to 16%, reduced from a previous range of 16% to 24%. The company blamed slower-than-expected Wegovy uptake in the US obesity market, compounded by ongoing sales of compounded GLP-1s, a more competitive landscape for Ozempic in the US, and lower-than-expected Wegovy penetration in select international markets. Analysts at Jefferies said the 2025 outlook cut suggests high single-digit percentage underlying profit forecast downgrades. In New York on Tuesday, the Dow Jones Industrial Average was down 0.3%, the S&P 500 was 0.1% lower, as was the Nasdaq Composite. A report from the Conference Board showed a slight pickup in consumer confidence, albeit from low levels, while another release showed a larger-than-expected drop in job openings. On Wednesday, the Federal Reserve is widely expected to leave interest rates unchanged. According to the CME FedWatch Tool, it is near-certain that the Fed will maintain rates at the 4.25%-4.5% range this week. The Fed held in each of the first four meetings this year. Its last cut was in December, a 25 basis points trim to the federal funds rate range. A fifth successive hold is in the offing during the final meeting before a summer break. A 'wait and see' approach will likely be the message from chairman Jerome Powell at the subsequent press conference, analysts at Morgan Stanley predict. 'We think chair Powell will remain balanced, acknowledging both upside risks to inflation and the projections for rate cuts later this year,' Morgan Stanley analysts said. Attention will focus on any dissent in the ranks of the Federal Open Market Committee, where Governors Michelle Bowman and Christopher Waller may back a rate cut. Meanwhile, Chinese and US delegations met for their second day of trade negotiations in Stockholm, with both sides said to be aiming to extend a truce due to end in two weeks' time. Neither side has so far made public any information about what has gone on in the talks, which started on Monday. Joshua Mahony at Rostro said: 'There is an expectation that an extension to the tariff deadline with China will open a pathway for Xi Jinping and Donald Trump to meet in person, heightening hopes for an impending trade deal between the world's two largest economies.' The pound eased to 1.3337 dollars late on Tuesday afternoon in London, compared to 1.3403 dollars at the equities close on Monday. The euro traded at 1.1537 dollars, lower against 1.1620 dollars. Against the yen, the dollar was trading slightly lower at 148.38 yen compared to 148.45 yen. The yield on the US 10-year Treasury was at 4.35%, trimmed from 4.42%. The yield on the US 30-year Treasury was at 4.88% narrowed from 4.96%. On Wall Street, Merck was another drugs maker in the news with shares down 4.8% as it announced plans to save 3 billion dollars annually by the end of 2027, and tightened full-year guidance, as second quarter sales fell short of expectations. The Rahway, New Jersey-based pharmaceutical company said GAAP net income fell 19% to 4.43 billion dollars in the second quarter of 2025 from 5.46 billion dollars a year prior. Sales decreased 1.9% to 15.81 billion dollars from 16.11 billion dollars a year ago, missing LSEG consensus of 15.89 billion dollars. Sales of human papillomavirus drug, Gardasil, slumped 55% to 1.13 billion dollars due to lower demand in China. Brent oil was quoted higher at 70.74 dollars a barrel in London on Tuesday, up from 69.65 dollars late on Monday. Gold rose to 3,327.45 dollars an ounce against 3,314.26 dollars. The biggest risers on the FTSE 100 were Games Workshop, up 830p at 16,090p; AstraZeneca, up 368p at 11,158p; Endeavour Mining, up 66p at 2,332p; Barclays, up 10p at 371.2p; and Rolls-Royce, up 24.6p at 1,006p. The biggest fallers on the FTSE 100 were Croda International, down 301p at 2,598p; Rentokil Initial, down 12.9p at 348.1p; Glencore, down 10.8p at 305.9p; Unite Group, down 21.5p at 764.5p; and Whitbread, down 86p at 3,108p. Wednesday's local corporate calendar has half-year results from defence manufacturer BAE Systems, Asia-focused lender HSBC, pharmaceuticals firm GSK, miners Rio Tinto and Glencore and housebuilder Taylor Wimpey. The global economic calendar on Wednesday sees interest rate decisions in the US and Canada, and US economic growth figures. Contributed by Alliance News. 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Telegraph
a day ago
- Business
- Telegraph
Bat delaying our new car park, says Games Workshop
The plastic miniatures manufacturer behind the Warhammer table-top game has revealed that a single bat is holding up its expansion plans. On Tuesday, Games Workshop said a common pipistrelle microbat had been found on a site near the company's Nottingham headquarters where bosses are trying to build a new car park. The winged creatures – generally small enough to fit into a matchbox – are protected by law, meaning developers must put in place mitigations when disrupting their habitats. Games Workshop said the temporary new car park was being created at its sprawling campus headquarters on a Nottingham industrial estate, which houses two manufacturing plants as well as the Warhammer World hobby shop. The FTSE 100 company revealed the bat problem as it provided an update on its finances to investors, assuring them things looked 'solid' despite some disruption from Donald Trump's tariffs in the US. It said things were 'in line with our detailed operational plans and policies', before adding: 'The exception was the news about tariffs and the cute-looking pipistrelle bat that is delaying our work on our new temporary car park. 'We are carefully looking after the bat and we hope the uncertainty around tariffs is resolved soon.' Planning battle It comes after Rachel Reeves, the Chancellor, complained that planning rules were holding back the economy. She said businesses should be able to 'focus on getting things built, and stop worrying about the bats and the newts'. HS2, the rail mega-project, also sparked controversy when it emerged that £100m had been spent on a 1km-long 'bat shed' designed to protect a colony of bats from 225mph trains. The tunnel-like structure covers tracks near Aylesbury, Buckinghamshire. However, under reforms of regulators announced in March, ministers have taken aim at what they say are disproportionate bat-related restrictions. At the time Jonathan Reynolds, the Business Secretary, said: 'It should not be the case that to convert a garage or outbuilding you need to wade through hundreds of pages of guidance on bats. 'Environmental guidance, including on protecting bats, will be looked at afresh. 'Natural England has agreed to review and update their advice to Local Planning Authorities on bats to ensure there is clear, proportionate and accessible advice available.' Under the changes, the Government ordered Natural England, the nature watchdog, to remove all references to the Bat Conservation Trust from its guidance. The trust has hit back, arguing it is false to suggest 'that in order to grow the economy we must sacrifice our natural heritage'. A statement published by the group in January said: 'Pitting nature against development is dangerous, irresponsible and unnecessary. 'The language being used by government ministers is divisive and ignores the pragmatic and sustainable ways that could be used to build more homes and infrastructure. 'Rather than using soundbite politics, it is time for the Government to work with Bat Conservation Trust and others to find pragmatic solutions that will benefit the economy, society and wildlife.'
South Wales Guardian
2 days ago
- Business
- South Wales Guardian
Games Workshop cheers record year but faces £12m US tariff hit
Shares in the company swung higher on Tuesday morning, as investors were buoyed by surging sales. The Nottingham-based company jumped into the FTSE 100 last year after growing global trade helped to drive a rise in the firm's value. Games Workshop saw North American sales rise 14.6% to record levels of £51.7 million for the year to June, as it benefited from more store openings over the year. However, the company cautioned that it could face higher costs because of new tariff plans from US President Donald Trump's administration. 'Our current estimate is that if we did nothing, new tariffs could impact profit before tax by around £12 million in 2025/26,' the company said. It said it plans to deal with the issue in its 'normal pragmatic way' and will not change its operational plans 'too much'. Tariff costs are likely to reduce its gross profit margins by around 2% for the year, but the company said it expects to recoup this through efficiencies. It came as Games Workshop revealed that revenues lifted by 14.2% to £565 million for the year, amid strong demand for core Warhammer 40,000 products and through its licensed IP. Meanwhile, pre-tax profits jumped by almost a third to £262.8 million for the year from £203 million a year earlier. The company opened 30 new stores over the past year and shut eight sites to leave it with a portfolio of 570 stores globally. Kevin Rountree, chief executive of Games Workshop, said: 'After a record year, we remain focused on delivering our operational plans and working tirelessly to overcome any significant obstacles that get in the way. 'We will continue to give ourselves the freedom to make some mistakes, constantly working on improvements in product quality and manufacturing innovation. 'Despite our recent successes we will never take our hobbyists' support for granted.' Shares in the company were 5% higher as a result.
Times
2 days ago
- Business
- Times
Games Workshop profit jumps but warns of tariff hit
The business behind the Warhammer fantasy universe has reported a near-third jump in annual profit, although it warned of a possible £12 million hit from tariffs next year. Pre-tax profit at Games Workshop came in at £262.8 million, up 30 per cent from £203 million the year prior and well ahead of the £255 million it had guided for in May. Revenue rose 14.2 per cent to £565 million, up from £494 million. A record set of financial results continued the Nottingham-based business's stellar performance in recent years, which included elevation into the FTSE 100 last December. Shares in Games Workshop have skyrocketed in recent years amid huge demand for its miniature figurines and games, and its market cap now sits at more than £5 billion. • Market turmoil drives profit surge at Barclays However, the company did warn that tariffs could have an impact on its pre-tax profit figure for the 2025-26 financial year by about £12 million and reduce reported gross margins by 2 per cent. Games Workshop insisted it was 'business as usual', with little change to any operational plans as of today. Shares in Games Workshop, which have risen more than 50 per cent over the past year, gained 4.6 per cent to £159.60. There had also been some concern after the company announced in May it would be unlikely to repeat a record revenue haul from licenses in the new financial year, a warning that sent shares down about 3 per cent. Licensing revenue rose from £31 million to £52.5 million in the year ended June 1, while licensing operating profit rose to £49.5 million from £27 million. Games Workshop said its licensing performance had been a 'nice surprise,' although this would be 'difficult to match' next year given its Warhammer 40,000: Space Marine 2 game performed well above expectations. Kevin Rountree, the chief executive, said: 'After a record year, we remain focused on delivering our operational plans and working tirelessly to overcome any significant obstacles that get in the way. 'We will continue to give ourselves the freedom to make some mistakes, constantly working on improvements in product quality and manufacturing innovation. Despite our recent successes we will never take our hobbyists' support for granted.' Founded in 1975 by three friends, John Peake, Ian Livingstone and Steve Jackson, Games Workshop employs around 1,500 people at its Nottingham hub, with 134 stores in the UK and more globally. It floated on the London Stock Exchange in 1994.
Yahoo
2 days ago
- Business
- Yahoo
My favourite UK stock rose 5% today and topped the FTSE 100 index!
Of all the stocks in the FTSE 100 index, Games Workshop (LSE: GAW) is my favourite. This choice is made easier when the share price is up 107% in three years, and continues to make money in my portfolio. Games Workshop stock rose again today (29 July), up 5.7% to 16,140p. In 10 years, the Warhammer maker has returned around 2,700%, not including cash dividends (of which there have been plenty). Let's take a look at why this FTSE 100 outperformer is on the move right now. A cracking year Games Workshop has just published its full-year results, covering the 52 weeks to 1 June (FY25). The headline news was that pre-tax profit rose nearly 30% year on year to £262.8m. This comfortably matched prior guidance of 'not less than £255m.' That was on revenue of £617.5m, up 17.5%. Immediately, we can see with these figures why many investors love the miniature wargames maker. It's very, very profitable, with eye-catching margins. Licensing revenue jumped 69% to £52.5m, as video game Space Marine 2 performed well above expectations. This highlights how the firm is successfully monetising its treasure trove of intellectual property to bring in high-margin revenue. Management says it will look to release more Warhammer 40,000 games, as well hunt for partners to bring its Age of Sigmar setting and characters to console, PC and mobile. CEO Kevin Rountree commented: 'Games Workshop and the Warhammer hobby are in great shape. A cracking performance by the team delivering some cracking results: core business profit before tax of over £200m from sales of Warhammer products for the first time and the best financial results in Games Workshop's history, so far.' Licensing lumpiness Warhammer IP is rich, vast and endless…Our strategy is to exploit the value of our IP beyond our core tabletop business, in multiple categories and markets globally. Now, one thing worth mentioning is that the licensing revenue figure may be hard to top this year. This points to a bit of IP lumpiness, which might cause volatility in the share price. And while a deal with Amazon for the adaptation of Warhammer 40,000 universe into TV content is now signed, management cautions that 'these things take several years to bring to market'. Elsewhere, the company said it could take around a 2% hit on the gross margin this year due to tariffs. It's trying to make up the shortfall through efficiency savings, but it warns that 'this is not a simple task when we are already very efficient'. A slight disappointment for me was that its three stores in China are now under review. If Warhammer had taken off there, the growth opportunity could have been vast. However, you can't win them all, and most countries are still delivering strong growth, including Japan (where retail sales rose 25.9%). Games Workshop ended the period with 570 stores. This year, it aims to open another 35 or so in North America, Europe and Asia (including its first Warhammer store in South Korea). Foolish takeaway While the company continues to impress and could be worth considering, the stock isn't cheap, trading at nearly 30 times forward earnings. Investors researching Games Workshop should be mindful of the valuation. Personally though, I intend to keep holding my shares for many years to come. The post My favourite UK stock rose 5% today and topped the FTSE 100 index! appeared first on The Motley Fool UK. More reading 5 Stocks For Trying To Build Wealth After 50 One Top Growth Stock from the Motley Fool Ben McPoland has positions in Games Workshop Group Plc. The Motley Fool UK has recommended Amazon and Games Workshop Group Plc. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors. Motley Fool UK 2025
