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Here’s Why Games Workshop Share Price Erupted 20% Today

Practice Stock Trading
Updated: 10 September 2020

Shares of Games Workshop Group PLC (LON: GAW) soared over 20% in today’s trading session after the retailer said trading came in ahead of expectations.

Sales for the three months to August 30 should be around £90 million, higher than £78 million a year ago. As a result, the operating profit before income from royalties should come around £45 million, over 60% higher than £28 million in 2019. Income from royalties is expected at £3 million.

“The board recognises that this performance is better than the prior year but is also aware that it is still early in the financial year. A further update will be given as appropriate,” the company said in a statement.

To this end, the retailer declared a dividend of 50p per share, which will be paid to shareholders on 23 October.

Games Workshop stock price soars on strong sales September 2020

Games Workshop share price gained over 20% before paring back around half of these gains to trade at 9655p, or 10.66% on the day.