Games Workshop has issued a 23-word statement in which it said its trading was "in line" with expectations in the first three months of its current financial year.

In its update, the Nottingham-based firm, which produces miniature wargames, said: "Games Workshop Group PLC announces that trading for the three months to 1 September 2024 has been in line with the board's expectations."

Following the short statement to shareholders, one analyst suggested that Games Workshop could be disguising goings on behind the scenes at the firm.

Investment director at AJ Bell, Russ Mould, stated: "While some investors might welcome the directness of the statement, saying trading is in line with expectations, you do have to wonder why it doesn’t feel compelled to shed some light on individual parts of the business.

"Shareholders own the company and they have a right to know what’s going well, what isn’t, and what to expect going forward. There is certainly an expectation for companies in the prestigious FTSE 250 index to be transparent.

"Games Workshop might argue that three months is too short a period to warrant in-depth analysis or that running the business is more important that telling shareholders what’s going on in a quarterly update. It does suggest that whoever is running the investor relations department must have the easiest job in the world."

The latest update comes after the company saw its revenue increase by 11.6% in the 53 weeks to 2 June 2024, which was in line with expectations.

Furthermore, its profit before tax increased by 18.9% to £203m, which beat expectations from earlier in the year.

Following these results released in late July, chief executive officer at Games Workshop, Kevin Rountree, said: "After a record year, we will continue to focus on the things in our control. We have a very clear strategy, which remains unchanged, a detailed operational plan for the year ahead and a great team to deliver it. I wish to thank our staff, customers, trade accounts and broader stakeholders for their ongoing support. Exciting times."

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