Games Workshop shares in fantasy land following strong sales
Shares in fantasy miniatures maker Games Workshop rocketed on Tuesday after the firm said strong first quarter sales will deliver a boost to profits.
The Nottingham-based group said that trading in the period had continued strongly and profits for 2017/18 to date are "well above" the same period last year.
"Following on from the group's update in July, trading for the first quarter of the current financial year has continued strongly.
"Sales and, given the high operational gearing of the business, profits for 2017/18 to date are therefore well above the same period in the prior year," Games Workshop said.
The company also announced a dividend of 35p per share.
Games Workshop shares advanced by more than 7% in afternoon trading to 1,762p.
Over the past 12 months, Games Workshop shares have risen by more than 150% as the firm continues to bounce back from a difficult period when sales faltered.
The group recorded a hefty rise in profits last year - from £16.9 million to £38.4 million - helped by the collapse in the value of the pound.
Games Workshop makes 75% of its sales overseas, so benefits from a weak British currency.