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Discussion Starter #1
GW have relased thier half year earnings report.

Its here:

http://investor.games-workshop.com/latest_results/Results2008/downloads/Interim_07.pdf

Basically I think this is the first time they have actually posted a Loss. Sales are in decline and the cost cutting continues.

I think the inventory management is the lack of Bitz


Pertinant bits include:

Revenue at £54.6m (2006: £54.6m)
● Pre-exceptional gross margin at 69.9% (2006: 70.9%)
● Exceptional items – cost reduction programme £(0.6)m (2006: £nil)
● Pre-exceptional operating profit up £0.6m to £1.1m (2006: £0.5m)
● Operating profit at £0.5m (2006: £0.5m)
● (Loss)/earnings per share of (0.4)p (2006: 0.2p)


Games Workshop Group PLC 1
● Revenue at £54.6m (2006: £54.6m)
● Pre-exceptional gross margin at 69.9% (2006: 70.9%)
● Exceptional items – cost reduction programme £(0.6)m (2006: £nil)
● Pre-exceptional operating profit up £0.6m to £1.1m (2006: £0.5m)
● Operating profit at £0.5m (2006: £0.5m)
● (Loss)/earnings per share of (0.4)p (2006: 0.2p)
FIRST HALF HIGHLIGHTS
Six months to Six months to
2 December 26 November
2007 2006
Revenue £54.6m £54.6m
Pre-exceptional
operating profit £1.1m £0.5m
Exceptional items
- cost reduction
programme £(0.6)m £nil
Operating profit £0.5m £0.5m
(Loss)/profit
before tax £(0.2)m £0.1m
Basic (loss)/
earnings per share (0.4)p 0.2p
 

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Actually those figures that they made a loss are a little misleading. They have basically said they have invested profits into the cost reducation program to make savings of around 7m, so wont be paying any dividends just yet. Considering $/£/Euro exchange rates this is probably quite good results from an industry point of view.
 

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*Whoosh*

thats gone right over my head can someone put it in plane english have they done well and are prices going to go up.
 

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Discussion Starter #4
No and Yes
 
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