Profits have hit record levels at the company behind the Warhammer gaming universe as it continues talks over a film and TV tie-in with Amazon. Games Workshop said pre-tax profits for the last year were 3170.6 million – up from £156.5 million – with revenues up almost £80 million to £445 million.
At the end of last year the Nottingham miniatures, books and games business, said it wanted to bring the worlds of its huge Warhammer brand to the screen “like you have never seen before”. Back then it said it had “reached an agreement in principle” for Amazon to adapt its games into movies and TV programmes, which would initially involve developing the Warhammer 40,000 universe – the tabletop game based around “dark, futuristic warfare”.
It was even reported that Henry Cavill was set to star in and executive produce the adaptation, after he confirmed he will not be returning to play Superman.
In its latest accounts Games Workshop said: “Our contract negotiations with Amazon Studios continue, so within normal legal constraints we have nothing more we can add and we will update you accordingly.”
The business makes all its miniatures in Nottingham, where its design studio employs 300 people.
In his chairman’s statement John Brewis said it had thrived because of the solid principles and values that it was based upon.
He said: “This formula is clearly working as I’m delighted to report that [CEO] Kevin Rountree and his team have delivered another outstanding year with core revenue and profits, and dividends all at record levels.
“These financial outcomes are crucial for the long-term success of the company, enabling staff to be paid and rewarded, products and intellectual property to be created, suppliers and taxes to be paid, investments to be made and expansion funded while delivering a return to our shareholders – all without resorting to debt.
“Understandably, society and investors have come to expect more from companies to reflect their responsibilities beyond profit.
“Our response to this is to take a straightforward approach based on doing the right thing, so that we can succeed forever.
“Our decisions are based on long-term success not short-term gains.”
A statement signed off by Kevin Rountree said the business was in “great shape”, delivering profitable growth in every country it operates in.
He said: “Morale at Games Workshop is upbeat: we are doing OK but inflation and the related higher interest rates are clearly an ongoing concern for most of our staff.
“During the period, we continued to look at relevant ways to support our staff. We have increased pay across the group by on average 4.9 per cent (supporting fully the increase in Ƶ national living wage to £11 per hour) and following a review of our family leave entitlement, our maternity and adoption leave entitlement has increased from 6 weeks to 18 weeks at full pay.
“Paternity leave will increase from 1 to 2 weeks at full pay. We will continue to keep staff benefits under review.
“In line with our group profit share scheme, and for their outstanding contribution to these results, we have paid each member of staff £4,000 this period (2022: £3,500), in total £11.6 million (2022: £9.9 million).”
