Tabletop fantasy and futuristic battle-games company Games Workshop Group PLC (GAW.L) Tuesday said it turned to profit in the first half, helped by local currency sales growth in all territories, except Continental Europe.
The U.K-based company's pre-tax profit for the first six months was GBP 3.06 million, compared to restated loss of GBP 0.14 million in the previous year.
Profit attributable to equity shareholders was GBP 1.53 million or 4.9 pence per share, in comparison with restated loss of GBP 0.11 million or 0.4 pence per share in the earlier year.
Revenues increased to GBP 61.22 million from GBP 53.91 million a year ago. Operating profit was GBP 3.8 million, higher than GBP 0.6 million last year.
The company noted that restatement of the six months to December 2, 2007, relates to the reclassification of the results of the card games, role-playing games and board games activities from continuing operations to discontinued operations.
Mark Wells, chief executive said, "The work needed to establish growth in all channels in all territories goes on with some significant progress being made in this half-year where, with the exception of Continental Europe, we have been able to deliver local currency sales growth in all territories."
"In a very difficult period for input costs - in particular with the price of commodities such as tin and our utility costs - it is pleasing to report that we have increased our gross margin from 70.1% in the last half-year report to 71.4% in this one," Wells added.
GAW.L is currently trading at 200 pence on the LSE.
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