Games Workshop has reported that the business is in "good shape" after reaching record profits in the first half of the year.

The Nottingham-based company’s revenue increased by 9.3% year-on-year to £247.7m to the six months to 26 November 2023.

The firm’s trade business, which is its largest division and mainly supplies independent retailers, saw sales growth of 12.6% in the same period to £136.1m, whilst retail revenues also increased by £48.7, to £54.7m.

In the six month period to the end of November, Games Workshop opened 14 stores, including relocations, and is still on track to reach 30 new stores by the end of the financial year.

In a statement, it also said that its Warhammer World site in Nottingham and its Tottenham Court Road shop in London were the key contributors to help it “record sales levels” across the business.

Chief executive officer at Games Workshop, Kevin Rountree, said: "Games Workshop and the Warhammer hobby are in great shape. We continue to perform well during challenging economic times, delivering record group revenue, profit and dividends in the period. Morale is good at Games Workshop and our hobbyists are having fun too.

"We continue to perform well during challenging economic times, delivering record group revenue, profit and dividends in the period. Morale is good at Games Workshop and our hobbyists are having fun too."

As part of the announcement, Games Workshop announced that Rachel Tongue will step down from the role of chief financial officer and will leave the firm in January 2025, after 27 years with the group and nine years on the board.

She will continue in the role on the board until the AGM in September 2024 and the firm will commence the search for her successor immediately.

Rountree added: "We thank Rachel for championing our business model and our culture, her incredible hard work and dedication and her endless commitment to ensuring we continue to improve every year. She has played a huge part in helping to deliver our ongoing success, we all wish her well for the future."

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