Games Workshop has increased its profit before tax expectations for the 2024/25 financial year and revealed the figure will be no less than £255m.

The miniature wargames producer said for the 52 weeks to 1 June, its core revenue will be no less than £560m, which is a 13.2% increase year-on-year, while its core operating profit will be higher than £210m, up from £174.8m in 2023/24.

Furthermore, the FTSE 100 listed firm said its licensing operating profit is set to jump by 67% annually to £45m, which is a record level for the company.

However, it added that it is not expecting the licensing profit figure to be repeated in 2025/26, although licensing remains a "significant area of focus".

Games Workshop said that in light of its staff’s contributions to these results, it will have paid group profit share cash payments of around £20m in this period. This is an increase from £18m last year, with dividends for the year totalling £171.4m at 520 pence per share. This is up from £138.3m in 2023/24 at 420 pence per share.

Investment director at AJ Bell, Russ Mould, described the period as a "monumental year" for Games Workshop, after it delivered a "string of good news around earnings" and gained promotion to the FTSE 100.

He added: "It’s capped that year off with another upgrade to earnings guidance.

"Games Workshop has a rock-solid core business, underpinned by an army of fans emerged in its fantasy worlds who collect miniature figures and play its board games. This success has enabled the company to build a rich library of intellectual property that it is now the platform for additional revenue generation.

"Licencing the rights to certain brands and characters is easy money but Games Workshop is fiercely protective of its assets and won’t let anyone come along and milk them. It wants to be sure that any custodians of its IP are using it wisely and do not tarnish its reputation."

Games Workshop will announce its full-year results on 29 July.

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