Edison Investment Research - Games Workshop Group PLC (GAW) Games Workshop Group - FY24 profit estimates beaten

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Edison Investment Research

Kate Heseltine

Games Workshop Group - FY24 profit estimates beaten

Games Workshop Group’s FY24 trading update provided a nice surprise on the revenue side, broadly equally split between core and licensing, and an even nicer surprise for PBT, suggesting an improvement in gross margin. We have upgraded our FY24 estimates to be consistent with the indicated figures and marginally increase our estimates for FY25, which reverts to a 52-week period accounting period.

21/06/2024 1 EN

Underlying

Games Workshop Group PLC

Games Workshop and its subsidiaries designs and manufactures miniature figures and games and distributes these through its own network of retail stores, independent retailers and direct via the internet and mail order. Co. has manufacturing activities in the U.K. and sells mainly in Europe, North America and Asia Pacific.

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GB0003718474 London Stock Exchange United Kingdom

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Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts

Kate Heseltine

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Games Workshop Group - FY24 profit estimates beaten

Games Workshop Group - A notable acceleration in Q225

Games Workshop Group - Sigmar the fourth

Games Workshop Group - Another record year in FY24

Games Workshop Group - A notable acceleration in Q225

Altron - Further margin expansion in H125

Sayona Mining - Catching up with majors

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